Inflation is still climbing sharply in these U.S. cities | KLRT [Video]

(KTLA) – Residents in a number of cities are still seeing the cost of consumer goods and services rise faster than the rest of the nation, even as the U.S. inflation rate levels off, according to a new study from WalletHub.

The personal finance website compared changes in the Consumer Price Index in 23 major metropolitan areas year over year, and over three recent months, and then created a score based on those figures.

Of the 23 cities ranked, WalletHub found that Honolulu and Miami have seen the steepest increases in consumer prices, including groceries, rent, and automobiles, while Detroit and Anchorage have seen prices cool the most.

The U.S. inflation rate hit a 40-year high after the COVID-19 pandemic but has recently settled at 3.5% – still above the Federal Reserve’s target of 2%.

Cities With the Biggest Inflation Problems