DETROIT, Mich. (WLNS) — Michigan’s biggest city is being hit hard by inflation, according to a new report.
Detroit has the second highest rate of rising inflation, as reported by personal-finance website WalletHub.
The report compared 23 cities that are considered Metropolitan Statistical Areas using two key metrics on the Consumer Price Index, which measures inflation.
The data from the Consumer Price Index from the latest month is then compared to U.S. Bureau of Labor data from two months prior, and one year prior, to get a look at how inflation has changed in the long and short term.
These are the 23 cities with the highest rising rates of inflation:
| Overall Rank | MSA | Total Score | Consumer Price Index Change (Latest month vs 2 months before) | Consumer Price Index Change (Latest month vs 1 year ago) |
|---|---|---|---|---|
| 1 | Miami-Fort Lauderdale-West Palm Beach, FL | 83.33 | 1.40% | 9.00% |
| 2 | Detroit-Warren-Dearborn, MI | 79.66 | 2.10% | 6.60% |
| 3 | Phoenix-Mesa-Scottsdale, AZ | 72.16 | 1.50% | 7.40% |
| 4 | Tampa-St. Petersburg-Clearwater, FL | 65.17 | 1.10% | 7.70% |
| 5 | Seattle-Tacoma-Bellevue, WA | 56.01 | 1.00% | 6.90% |
| 6 | Dallas-Fort Worth-Arlington, TX | 53.83 | 1.30% | 5.80% |
| 7 | Denver-Aurora-Lakewood, CO | 52.99 | 1.30% | 5.70% |
| 8 | Chicago-Naperville-Elgin, IL-IN-WI | 52.50 | 1.60% | 4.80% |
| 9 | San Diego-Carlsbad, CA | 42.45 | 1.00% | 5.30% |
| 10 | Houston-The Woodlands-Sugar Land, TX | 38.58 | 1.30% | 4.00% |
| 11 | Washington-Arlington-Alexandria, DC-VA-MD-WV | 36.04 | 1.30% | 3.70% |
| 12 | Baltimore-Columbia-Towson, MD | 35.31 | 0.70% | 5.30% |
| 13 | Atlanta-Sandy Springs-Roswell, GA | 34.79 | 0.50% | 5.80% |
| 14 | Los Angeles-Long Beach-Anaheim, CA | 24.98 | 0.80% | 3.80% |
| 15 | St. Louis, MO-IL | 23.61 | 0.60% | 4.20% |
| 16 | Anchorage, AK | 19.05 | 0.80% | 3.10% |
| 17 | San Francisco-Oakland-Hayward, CA | 18.85 | 0.40% | 4.20% |
| 18 | Boston-Cambridge-Newton, MA-NH | 18.32 | 0.20% | 4.70% |
| 19 | Urban Honolulu, HI | 15.98 | 0.60% | 3.30% |
| 20 | Philadelphia-Camden-Wilmington, PA-NJ-DE-MD | 15.94 | 0.10% | 4.70% |
| 21 | Riverside-San Bernardino-Ontario, CA | 12.71 | 0.00% | 4.60% |
| 22 | Minneapolis-St.Paul-Bloomington, MN-WI | 12.07 | 0.40% | 3.40% |
| 23 | New York-Newark-Jersey City, NY-NJ-PA | 5.09 | 0.00% | 3.70% |
You can view the full report here.
