NEW MEXICO (KRQE) – Inflation hit a 40-year high in 2022. Although the trend has slowed, it’s still being felt across the country. But where has inflation risen the most in the United States? WalletHub has released a new study ranking the 22 cities where it’s the worst.
No New Mexico cities made the list, but neighboring states were represented. The Phoenix area came in at number three with a consumer price index change of 1.2% over just two months ago. Phoenix has had an 8.5% change since last year at this time.
The city getting hit the worst is the Philadelphia area with a 2% hike in consumer price index change from two months ago. They saw a nearly 7% jump from this time last year. Other cities in the top five were Detroit in second place, Seattle in fourth, and Atlanta in fifth.
WalletHub compared 22 metropolitan areas’ consumer price index and how it changed from the month of April to two months ago and from one year ago. Each metric was weighed on a 50-point scale. The data was gathered from the U.S. Bureau of Labor Statistics.