South Florida ranks second in the nation with the biggest inflation problem NBC 6 South Florida [Video]

The Miami-Fort Lauderdale-West Palm Beach metropolitan area ranks second in the nation with the biggest inflation problem, according to a new report by Wallethub.

The year-over-year national inflation rate rose 3.5% for March 2024, while the annual rate of inflation in the South Florida metropolitan area got to 4.90%.

Personal-finance website WalletHub decided to take a look at exactly how inflation has been impacting people across the U.S. — and South Florida residents are among those being impacted the most.

A total of 23 major MSAs — Metropolitan Statistical Areas — were compared across two key metrics involving the Consumer Price Index, which measures inflation.

Researchers noted Consumer Price Index for the latest month for which BLS data is available to two months prior and one year prior — to get a snapshot of how inflation has changed in the short and long term, WalletHub stated.

WalletHub developed a score that measures both the inflation rate for the last year and …