Inflation is Rising the Most in One Michigan City
Inflation is on the rise all over the world. Last year, it hit a 40-year high.
Groceries, gas, dining out, interest rates...all of it. Inflation is on the rise and our wallets are feeling the squeeze.
Inflation Rates are Rising
But as it turns out, some cities are being hit harder than others in terms of rising inflation. And sadly, there's a city in Michigan that is being hit the hardest.
And that would be Detroit, Michigan.
Inflation is Rising the Most in Detroit, Michigan
Probably unsurprising for Detroit residents, inflation is on the rise the most in the Motor City. Comparatively, the city that's seeing the smallest hike in the inflation rate is Honolulu, Hawaii.
According to WalletHub, of the 23 major Metropolitan Statistical Areas they looked at, Detroit faired the worst, tieing with Miami, and beating out cities like Tampa, Phoenix, Seattle, Houston, and more.
To determine which city had inflation rising the most, WalletHub looked at two major factors: the change in the Consumer Price Index 2 months ago and one year ago. The Consumer Price Index shows the variation in prices paid by typical consumers for retail goods and other items. Detroit saw its index increase by 2.1% in the last two months, and 6.6% in the last year.
Hopefully, Detroit, and cities across the nation (and World for that matter) see the end to the rise in inflation soon. On a brighter note, Detroit ranks pretty well when it comes to other factors; like affordable honeymoons and professional sports teams...Hey, you gotta take your wins where you can.