Phoenix ranks #2 in cities with the fastest growing inflation – Arizona's Family

PHOENIX (3TV/CBS 5) — Just when you hoped our high prices might level off, we learn that’s not necessarily the case. is a finance website that recently revealed its report on the top cities experiencing the highest inflation rate. The good news is Phoenix isn’t number one. Instead, that first-place trophy goes to Anchorage, Alaska. “Anchorage really outdid any other city. It’s about a 12.5% increase over the last year, and over the last two months, it’s seen a 7% increase,” said Jill Gonzales.
Gonzales is an analyst with WalletHub. The site focused on cities that experienced the quickest jump regarding the Consumer Price Index. The index studies consumer spending patterns, including the cost of gas, housing, and clothing to name a few.
While their research revealed that Anchorage is paying 12.4% more for these items than last year, Phoenix came in at number 2. We’re paying 12.3% more for items compared to last year.
But Gonzales tells On Your Side that inflation has slowed slightly in some cities since the Feds began increasing interest rates. Even in Phoenix, she says prices have dipped. “It would seem that the Feds raising interest rates aggressively is possibly working here. So, if they continue to do that, we may continue to see inflation slow down over time,” she explained.
Other cities experiencing the biggest jump in inflation are Atlanta, Seattle, Baltimore and Miami. To view WalletHub’s complete report, click/tap here.
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