Where Tampa Bay Ranks Among U.S. Metros Battling Inflation

WalletHub has unveiled a new report highlighting how major metropolitan areas are bearing the brunt of inflationary pressure.

According to analysts at WalletHub, the Covid-19 pandemic triggered a 40-year high in the U.S. inflation rate, though it has since eased. The site compared 23 metropolitan areas across two critical metrics tied to the Consumer Price Index (CPI), the primary gauge of inflation. By analyzing the CPI for the most recent month available from the Bureau of Labor Statistics and comparing it to two months prior and one year prior, the report reveals shifts in inflation over both short and long terms.

The report ranks Tampa Bay as 17th in the nation regarding its inflation rate, with an overall score of 38.56. The region saw a 0.5% change in the CPI in the latest month compared to the previous two months. Furthermore, the CPI increased by 2.4% in the latest month compared to the same period in 2023.

As of July 2024, the national year-over-year inflation rate stood at 2.9%, marking the first time it dipped below 3% since March 2021, yet it remains above the Federal Reserve’s target rate of 2%.

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