DALLAS — Inflation remains a concern across the country. A new study looked into which U.S. cities had the highest inflation rates in 2024. So, where does DFW rank in terms of inflation problems?
The Dallas-Fort Worth area ranked second in the country in terms of inflation rate, behind only the Miami-Fort Lauderdale-West Palm Beach Florida area, according to a new WalletHub study.
The WalletHub study compared 23 metropolitan areas using the consumer price index, which measures inflation. The study compared the consumer price index for the latest month for which Bureau of Labor Statistics data is available two months prior and one year prior.
DFW had an overall score of 77.78. The consumer price index in DFW rose 5.3% from the latest month compared to the same period last year, according to the report. It changed 0.9% from the latest month compared to two months prior.
The Miami-Fort Lauderdale-West Palm Beach, Florida, area, which had the highest rate, had a score of 86.11. The consumer price index there changed 4.9% from the latest month compared to the same period last year, per the report. It changed 1.4% there from the latest month compared to two months prior.
In Texas, the Houston-Woodlands-Sugar Land area also ranked in the top 10, with an overall score of 55.56%. The consumer price index there changed 3.5% from the latest month compared to a year ago. It changed 1% from the latest month compared to two months ago.
The U.S. inflation rate hit a 40-year high after the COVID-19 pandemic but has cooled. The year-over-year inflation rate sits at 3.2% as of February 2024, which is still above the target rate of 2%, according to WalletHub.
“Various factors, such as the war in Ukraine and labor shortages, drive this higher-than-average inflation,” the study says.
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