NEW YORK (PIX11) – New York City has ranked first in a WalletHub study released on Tuesday that highlights the cities with the worst inflation problems in the U.S.
The consumer price index in the New York City metropolitan area, including New York, New Jersey and Pennsylvania, increased by 4.30% over the last year, according to the study. That means the cost of daily living expenses, like food and energy, has all gone up.
Atlanta and Honolulu are ranked second and third, respectively, in the study. Experts cited the rising cost of housing and economic recovery post-pandemic as some of the factors driving inflation.
WalletHub measured the changes to the consumer price index in 23 metropolitan statistical areas to carry out the study.
The current inflation rate for the U.S. is 2.9%, according to WalletHub. To read the study, click here.
Erin Pflaumer is a digital content producer from Long Island who has covered both local and national news since 2018. She joined PIX11 in 2023. See more of her work here.
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