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Elevated inflation continues to wallop Americans' buying powerfulness crossed nan country, but rising prices are impacting immoderate areas much than others.
The latest consumer value scale (CPI) released by nan Labor Department Wednesday showed prices successful nan U.S. climbed 3.5% successful March from a twelvemonth ago, rising for nan 3rd consecutive period and remaining good supra nan Federal Reserve's 2% target.
Customers shop astatine a supermarket successful Foster City, Calif., Sept. 13, 2023. Inflation roseate for nan 3rd period successful a statement successful March to 3.5% year-over-year. (Li Jianguo/Xinhua via Getty Images / Getty Images)
The CPI is simply a wide measurement of nan value of mundane goods, including gasoline, groceries and rent. Using information from nan Bureau of Labor statistics, WalletHub compared 23 Metropolitan Statistical Areas (MSAs) to find really ostentation is impacting group successful different parts of nan country.
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Here are nan cities WalletHub wished are hurting nan astir from inflation:
1. Urban Honolulu, Hawaii
Hawaii's largest city has been nan hardest deed by rising prices. The study recovered nan CPI for Honolulu was up 1.5% successful March from 2 months anterior and up 4.8% from a twelvemonth ago.
2. Miami-Fort Lauderdale-West Palm Beach, Florida
Aerial position of downtown Miami from nan Edgewater vicinity during sunset successful Florida. (iStock / iStock)
The region connected nan southeast separator of nan Florida peninsula is experiencing nan second-worst ostentation successful nan country. Prices roseate successful nan area of Miami, Fort Lauderdale and West Palm Beach by 1.4% from January to March, and are up 4.9% connected an annualized basis.
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3. Riverside-San Bernardino-Ontario, California
On nan other broadside of nan country, nan area surrounding San Bernardino successful southern California had nan third-highest value hikes successful nan U.S. The MSA, which includes Riverside and Ontario, saw ostentation accelerate 1.4% complete nan past 2 months, and 4.3% from a twelvemonth ago.
4. St. Louis, Missouri/Illinois
The St. Louis Arch is seen connected nan skyline of St. Louis Jan. 13, 2016. (REUTERS/Tom Gannam / Reuters Photos)
The St. Louis area connected some sides of nan separator of Missouri and Illinois classed 4th successful highest ostentation successful nan U.S. past month. Prices successful nan MSA were up 1.6% successful March compared to 2 months earlier and climbed 3.6% from nan aforesaid period successful 2023.
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5. Dallas-Fort Worth-Arlington, Texas
Texas' Dallas, Forth Worth, Arlington area came successful astatine No. 5 among nan highest prices successful March pinch a CPI summation of .9% from January and 4.9% from March of past year.
FOX Business' Megan Henney contributed to this report.
