Inflation is rising more in Phoenix than anywhere else in the country, reports says

Inflation(Source: Cropped Pexels)
Published: Nov. 10, 2022 at 10:16 AM MST
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PHOENIX (3TV/CBS 5) -- Inflation is a worldwide phenomenon, and as communities across the country are trying to adjust to the rising costs of everything, Phoenix tops a list of cities where inflation is rising the most.

That’s according to the latest report from the Consumer Price Index (CPI) and an analysis from WalletHub. Prices have increased by 1.4% in the last two months and about 12.10% compared to last year.

The CPI measures the average change in prices over time in a fixed market basket of goods and services. Over the year, the report states that food prices increased 9.3%, while prices for food at home have jumped 12.1% since a year ago. Within the food-at-home category, meats, poultry, fish, and eggs recorded the largest increase in prices.

Source: WalletHub

Atlanta, Tampa, Miami, and Dallas rounded out the top five cities.

WalletHub spokesperson Jill Gonzales told On Your Side in August that Inflation has slowed slightly in some cities since the Feds began increasing interest rates. And InvestigateTV previously reported that the average household would have to spend an extra $11,500 this year to maintain the same standard of living.