After reaching a 40-year-high in 2022, the U.S. inflation rate is on the decline. The Consumer Price Index slowed to 2.9% for the 12 months ending in July, dropping below 3% for the first time since 2021.
Some states continue to experience more sticker shock than others. The pace of inflation also differs significantly among localities.
WalletHub has released a report showing which Metropolitan Statistical Area (MSAs) still face the biggest challenges when it comes to inflation. The credit website compared the CPI for 23 major MSAs.
Nationwide, New York-Newark-Jersey City, NY-NJ-PA has the biggest inflation problem. The CPI change (latest month vs. two months prior) was 0.90%. The CPI change from one year ago was 4.10%.
According to WalletHub, among California MSAs, San Diego-Carlsbad has the biggest inflation problem. The CPI change from May to July was 0.60%. From one year ago, the change was 3.50%.
Los Angeles-Long Beach-Anaheim, San Francisco-Oakland-Hayward and Riverside-San Bernardino-Ontario followed. Riverside, however, experienced one of the lowest CPI changes from May to July (-0.60%).
Read the report here.
List and data were compiled by WalletHub and do not reflect statistics on all cities.