(The Center Square) – The Seattle-Tacoma-Bellevue metropolitan area in Washington state ranked No. 4 in WalletHub’s study released Tuesday of cities where inflation is rising the most.
The Seattle-Tacoma-Bellevue metro area tied for fourth place on WalletHub’s list with the Detroit-Warren-Dearborn, Michigan. Both metro areas had a total score of 77.17.
That’s a slip from last month’s No. 6 ranking for the Seattle-Tacoma-Bellevue metro area.
To determine its rankings of 23 metro areas across the country, the personal finance website looked at changes in the Consumer Price Index over the past two months, as well as changes over the last year. An important economic metric, the CPI is a monthly measure of U.S. prices for household goods and services.
WalletHub analyst Jill Gonzalez spoke about some of the factors accounting for the Seattle-Tacoma-Bellevue metro area’s top-10 ranking.
“Seattle metro has the fourth highest rise in inflation,” she reiterated in an email to The Center Square. “The consumer price index was 8% higher in February compared to the same time last year, the third biggest increase among the cities analyzed.”
It could have been worse, Gonzalez noted.
“What kept it from ranking even higher was the fact that when compared to December 2022, the CPI only rose by 1.4%, which is the ninth largest increase overall,” she said. “These figures indicate a slowing of inflation, most likely as a result of rising interest rates.”
Per the WalletHub study, the five metro areas where inflation is rising the most:
1. Tampa-St. Petersburg-Clearwater, Florida
2. Philadelphia-Camden-Wilmington, Pennsylvania-New Jersey-Delaware-Maryland
2. Phoenix-Mesa-Scottsdale, Arizona
4. Detroit-Warren-Dearborn, Michigan
4. Seattle-Tacoma-Bellevue, Washington
Per the WalletHub study, the five metro areas where inflation is rising the least:
22. Washington-Arlington-Alexandria, D.C.-Virginia-Maryland-West Virginia
21. Anchorage, Alaska
20. Urban Honolulu, Hawaii
19. Minneapolis-St. Paul-Bloomington, Minnesota-Wisconsin
18. Chicago-Naperville-Elgin, Illinois-Indiana-Wisconsin
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