23 Cities With the Highest Inflation Right Now

It doesn't take a financial expert to conclude that inflation is a major issue in the economy right now. However, what you might not know is that inflation isn't rising equally across the country. Some cities and states are experiencing higher inflation rates than others. WalletHub recently compared 23 major metropolitan areas to determine the cities with the highest and lowest inflation at the moment. Let's take a closer look at 23 cities experiencing higher inflation rates based on the latest data—ranked from those who have been flat to moderate—to those who are seeing the biggest rise. Is a city in your state number one?

With an overall rank of 11.77, Anchorage, Alaska has witnessed a moderate inflation rate of 0.4% in the latest month compared to two months ago. However, the city has seen a concerning deflation of -3.3% when compared to prices from a year ago. This trend may reflect certain localized factors impacting the cost of living in Anchorage.

Boston, Massachusetts, and its surrounding areas have experienced minimal price fluctuations in recent months, resulting in an overall flat inflation rate of 0.0%. While this stability may provide short-term relief for consumers, it is essential to monitor economic indicators closely to ensure long-term stability.

Urban Honolulu, located in Hawaii, has observed a modest inflation rate of 0.3% in the latest month. Although relatively low, this increase may be attributed to factors unique to the city's economy and its remote geographical location.

Baltimore, Maryland, and its neighboring areas have encountered a slight inflation rate of 0.2% in the most recent month. This increase in consumer prices, albeit modest, indicates a gradual shift in the local economy.

The Minneapolis-St. Paul metropolitan area has seen a minor inflation rate of 0.4% in the latest month. While the increase is relatively low compared to other cities, it suggests a slight uptick in the cost of living for residents of this vibrant region.

Chicago and its surrounding areas have experienced a moderate inflation rate of 0.4% in the past month. This upward trend in consumer prices highlights the ongoing economic dynamics shaping the city's economy.

Houston, Texas, and its neighboring regions have encountered a modest inflation rate of 0.5% in the latest month. This increase in consumer prices may be influenced by various factors, including the energy industry and the city's overall economic resilience.

The Phoenix metropolitan area has witnessed a slight inflation rate of 0.2% in the past month. Although relatively low, this increase may be associated with the city's expanding population and robust housing market.

The San Francisco Bay Area has experienced a modest inflation rate of 0.5% in the latest month. The region's dynamic economy, fueled by the tech industry, may be contributing to the upward pressure on consumer prices.

Los Angeles and its neighboring cities have seen a moderate inflation rate of 0.6% in the past month. The region's diverse economy, coupled with its significant population, can contribute to fluctuations in consumer prices.

The New York metropolitan area has encountered a moderate inflation rate of 0.7% in the latest month. As one of the world's financial hubs, New York City's inflation is influenced by various factors, including the cost of living, wages, and the local job market.

Philadelphia and its surrounding regions have witnessed a moderate inflation rate of 0.7% in the past month. Economic dynamics, such as job growth and local industries, play a significant role in shaping the city's inflation rate.

The Washington D.C. metropolitan area has experienced a modest inflation rate of 0.9% in the latest month. Being the nation's capital, economic policies, federal spending, and government contracts can impact the consumer prices in this region.

The Riverside metropolitan area has seen a moderate inflation rate of 0.8% in the past month. This increase in consumer prices may be attributed to the region's growing population and its close proximity to major cities like Los Angeles.

The Dallas-Fort Worth metropolitan area has encountered a modest inflation rate of 0.8% in the latest month. This increase in consumer prices can be attributed to factors such as population growth, robust business activity, and the region's diverse economy.

Miami and its neighboring cities have experienced a moderate inflation rate of 0.5% in the past month. As a popular tourist destination and a thriving business hub, the region's inflation can be influenced by factors such as tourism, real estate, and international trade.

The Denver metropolitan area has witnessed a moderate inflation rate of 0.8% in the latest month. This increase in consumer prices may be a result of the region's population growth, strong housing market, and the overall economic vibrancy of the area.

San Diego and its surrounding areas have observed a moderate inflation rate of 0.9% in the past month. Factors such as the city's desirable location, tourism, and the presence of various industries contribute to the fluctuations in consumer prices.

The Seattle metropolitan area has seen a moderate inflation rate of 1.0% in the latest month. This increase in consumer prices can be influenced by factors such as the technology sector, high demand for housing, and the city's overall economic growth.

St. Louis has encountered a moderate inflation rate of 1.3% in the past month. The city's inflation can be influenced by factors such as employment trends, manufacturing activity, and the overall economic conditions of the region.

The Detroit metropolitan area has experienced a moderate inflation rate of 1.1% in the latest month. Factors such as the automotive industry, labor market conditions, and local economic policies can contribute to the changes in consumer prices.

Atlanta and its surrounding regions have witnessed a moderate inflation rate of 1.2% in the past month. The city's inflation can be influenced by factors such as population growth, the presence of major corporations, and the overall economic development of the area.

Tampa and its neighboring cities have seen the highest inflation rate among the 23 cities, with a moderate increase of 1.7% in the latest month. The region's inflation can be influenced by factors such as tourism, real estate, and the overall economic activity of the area.