Month after month, the Bureau of Labor Statistics (BLS) of the Department of Labor shares the Consumer Price Index report, which shows how inflation has risen from month to month, as well as over the last 12 months.
According to the most recent report, corresponding to the month of May, The consumer price index showed no increase last month, as inflation slightly loosened its grip on the American economy.
This index, which is a broad indicator of inflation that measures a basket of costs of goods and services throughout the US economy, remained stable in May. However, it increased 3.3% from the previous year, according to the BLS.
This is how prices rose and fell in May
Regarding the costs of specific goods and services, The housing index increased 0.4% in May for the fourth consecutive month, while the food index increased by 0.1%. The energy index fell 2% during the month, led by a 3.6% decrease in the gasoline index.
According to the report, Indices that increased in May include housing, health care, used cars and trucks, and education. On the other hand, the airfare, new vehicles, communications, recreation and clothing indices were among those that decreased in the month.
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The cities that are most affected by inflation in the USA
The inflation rate in the United States hit a 40-year high after the pandemic. Subsequently, it began to decline, in part, thanks to interest rate increases by the Federal Reserve. However, it is still above 2%, which is the goal of the US central bank
Although the data shared in the Consumer Price Index report corresponds to the country, in each state and city, the information varies. Some areas have experienced a greater or lesser price increase compared to the national level.
To determine which cities have been most affected, the financial portal WalletHub compared data from 23 metropolitan statistical areas.
According to the analysis, Among the cities with the biggest inflation problems is the Detroit-Warren-Dearborn area, in Michigan; Dallas-Fort Worth-Arlington, Texas; Honolulu, Hawaii; San Francisco-Oakland-Hayward, California and Seattle-Tacoma-Bellevue, Washington.
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