📺 Stream EntrepreneurTV for Free 📺

Here Are the Cities Where Inflation Is Rising the Most, According to a New Report Although inflation has shown signs of cooling, it's still at all-time highs in some of America's biggest cities such as Philadelphia, PA and Houston, TX.

By Madeline Garfinkle

entrepreneur daily

Opinions expressed by Entrepreneur contributors are their own.

Richard T. Nowitz | Getty Images
The Liberty Bell and Independence Hall in the back ground at at Philadelphia's Independence National Historic Site in Philadelphia, PA.

In March, the consumer price index (CPI) rose by 0.1%, signaling that inflation is finally cooling, per data from the Bureau of Labor Statistics. Still, the year-over-year inflation rate was up 5% in March, meaning there's still time before the cost of living fully restores to the Fed's ideal rate of inflation of 2%.

However, the rate of inflation varies by location, and it's rising in some American cities faster than others.

A new report by WalletHub analyzed 22 American metropolitan areas to determine where inflation was rising the fastest across the U.S. The report found that, in March, Philadelphia, PA had the highest rate of rising inflation of any metropolitan area with an overall score of 84.62, followed by Detroit, MI (including counties of Warren and Dearborn) at 83.30 and Phoenix, AZ (including counties Mesa and Scottsdale) at 81.82.

To assess where inflation was rising rapidly, WalletHub compared the CPI for March two months prior (to determine short-term change) and one year before (to determine long-term change) and then gave each metric a weighted average (to determine the overall rate of rising inflation).

Related: The $1 Pizza Slice Becomes The Latest Victim of Inflation: 'World Done'

Regarding the short-term rate of inflation, Philadelphia still came in at No. 1 at 2%, followed by Houston, TX, and Detroit, MI, which tied for No. 2 at 1.9%. After Houston and Detroit, San Francisco, CA had the third highest rate of inflation in the short term at 1.8%, followed by Atlanta, GA at 1.5%.

Source: WalletHub

As for the largest increase in inflation for the long term, Phoenix, AZ had the biggest change at 8.50%, followed by Seattle, WA at 8%, Tampa, FL at 7.7%, and Atlanta, GA at 7.2%.

Source: WalletHub

Here are the American metropolitan areas where inflation is rising the quickest overall:

1. Philadelphia-Camden-Wilmington, PA-NJ-DE-MD

Overall score: 84.62

Percent change in March from two months prior: 2%

Percent change in March from one year prior: 6.9%

2. Detroit-Warren-Dearborn, MI

Overall score: 83.30

Percent change in March from two months prior: 1.9%

Percent change in March from one year prior: 7%

3. Phoenix-Mesa-Scottsdale, AZ

Overall score: 81.82

Percent change in March from two months prior: 1.2%

Percent change in March from one year prior: 8.5%

4. Seattle-Tacoma-Bellevue, WA

Overall score: 81.56

Percent change in March from two months prior: 1.4%

Percent change in March from one year prior: 8%

5. Atlanta-Sandy Springs-Roswell, GA

Overall score: 76.14

Percent change in March from two months prior: 1.5%

Percent change in March from one year prior: 7.2%

6. Tampa-St. Petersburg-Clearwater, FL

Overall score: 71.85

Percent change in March from two months prior: 1.1%

Percent change in March from one year prior: 7.7%

7. Houston-The Woodlands-Sugar Land, TX

Overall score: 66.00

Percent change in March from two months prior: 1.9%

Percent change in March from one year prior: 5.2%

8. San Francisco-Oakland-Hayward, CA

Overall score: 64.69

Percent change in March from two months prior: 1.8%

Percent change in March from one year prior: 5.3%

9. Baltimore-Columbia-Towson, MD

Overall score: 58.74

Percent change in March from two months prior: 1.2%

Percent change in March from one year prior: 6.1%

10. Dallas-Fort Worth-Arlington, TX

Overall score: 58.13

Percent change in March from two months prior: 1.3%

Percent change in March from one year prior: 5.8%

You can see the full list, here.

Madeline Garfinkle

News Writer

Madeline Garfinkle is a News Writer at Entrepreneur.com. She is a graduate from Syracuse University, and received an MFA from Columbia University. 

Want to be an Entrepreneur Leadership Network contributor? Apply now to join.

Editor's Pick

Business News

These 4 Words Make It Obvious You Used AI to Write a Paper, According to New Research

Scientists are increasingly using ChatGPT and other AI bots to write studies.

Science & Technology

Exploring How Virtual Reality is Changing Startups

Virtual reality's immersive environment is where startup marketing is headed, and early adopters will be the ones who profit.

Franchise

President Biden Just Vetoed a Franchise-Saving Resolution — Here's What You Can Do to Protect Your Business

President Biden's veto of the repeal of the expanded Joint Employer Rule leaves many uncertainties for the franchise industry. Here's how to protect your business.

Starting a Business

Clinton Sparks Podcast: How T.I. Achieved Massive Entrepreneurship Success in Music and Life

This podcast is a fun, entertaining and informative show that will teach you how to succeed and achieve your goals with practical advice and actionable steps given through compelling stories and conversations with Clinton and his guests.

Business News

'They're Scared': PNC Arena Bans New York Residents From Purchasing Tickets Ahead of Rangers, Hurricanes NHL Playoff Matchup

The two teams will face off in Game 1 of the second round of the Eastern Conference fight for the Stanley Cup.