Miami tops a new list of U.S. cities where inflation is still on the rise. Here's the rest of the top 10, from Detroit to Houston.
Over the 12 months ended in April, the
— which measures the change in prices for goods and services paid by consumers — increased by 9% in Miami and by 7.7% in Tampa, compared to 4.9% for the U.S. overall.in housing prices since April 2022, according to the U.S. Bureau of Labor Statistics. Other costs also have increased in Miami and throughout Florida, says WalletHub communication director Jill Gonzalez.
"In addition to housing, other costs of living have gone up," Gonzalez tells CNBC Make It. "Electricity and other utilities have been some of the biggest drivers of inflation." The cost of food in Miami rose 7.9% between April 2022 and April 2023, while energy prices increased by 7.1%,In New York City, inflation growth was much lower: 3.7% on the CPI. However, New York has a higher baseline cost of living and, consequently, inflation has less room to grow, Gonzalez explains.major cities, ranked by a weighted average of year-over-year and two-month changes in CPI:
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