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These are the cities where inflation is rising most, survey says

In January last year, inflation was at 7.5%, climbing to a 40-year high of 9.1% in July

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Cars in Miami Beach, Florida.

Cars slow down after crossing a causeway to Miami Beach, Fla., Friday, May 28, 2021.

Wilfredo Lee, Associated Press

Whether it's eggs or gas, rising prices became a common sight in 2022.

The ongoing COVID-19 pandemic, the war in Ukraine and labor shortages pose a challenge to the already struggling economy.

“Businesses continue to have trouble hiring workers, which means businesses must pay higher wages to attract them,” John L. Campbell, professor emeritus at Dartmouth College, said in a statement, per The Hill. “That increases the cost of doing business, which is often passed on to consumers in the form of higher prices.”

In January last year, inflation was at 7.5%, climbing to a 40-year high of 9.1% in July. “Since then, the rate has ticked down to 6.5% in December,” as Art Raymond reported for the Deseret News.

This, he explained, is a result of the U.S. Federal Reserve’s battle against rising prices of goods and services, as they instituted “the most aggressive series of rate hikes in decades in an attempt to cool off the red-hot economy.”

In a study, WalletHub compared the Consumer Price Index, an inflation marker, of 23 major metropolitan cities with the most recent data to data from two months ago and a year ago, according to a statement. Here is what the survey found.

The cities where inflation is rising the most

  1. Miami, Florida.
  2. Tampa, Florida.
  3. Dallas, Texas.
  4. San Bernardino, California.
  5. Seattle, Washington.

The cities where inflation is rising the least

  1. Anchorage, Alaska.
  2. Los Angeles, California.
  3. Houston, Texas.
  4. Chicago, Illinois.
  5. Minneapolis, Minnesota.