Phoenix Inflation at Record 13% Shows Divergence Among Cities
https://news.yahoo.com/phoenix-inflation-record-13-shows-165900378.html π₯ Other cities across the South and Southwest saw double-digit increases in consumer prices, with the Atlanta metropolitan area posting annual inflation of 11.7% and Miami reaching 10.7%, according to Bureau of Labor Statistics data. Meanwhile, high housing costs are dogging the Sun Belt, where a shortage of apartments and houses and an inflow of investors have been driving up rents. Shelter costs in metropolitan Phoenix climbed 19% in August from the previous year, compared with a 6.2% gain nationwide. While Phoenix motorists have benefited from cheaper gasoline, prices there havenβt fallen as fast as in other parts of the country. Motor fuel costs in the city were up 33.5% last month, compared with 26.2% nationwide. π₯ Among cities that reported prices for July, Tampa, Florida, led with an 11.2% gain.
