A recent WalletHub study has ranked New York and New Jersey as the areas most affected by inflation, with a combined score of 81.78. The study analyzed changes in the Consumer Price Index across 22 major U.S. cities over the past year.
The study highlights that the New York/New Jersey metro area experienced the most significant inflationary pressures among all regions surveyed. This ranking was based on key indicators such as the cost of goods, services, and housing, which saw notable increases.
WalletHub’s analysis suggests that the economic recovery following the pandemic, coupled with supply chain disruptions, has driven up prices in these areas more than elsewhere in the country. The study notes that while inflation has eased in some parts of the nation, New York and New Jersey continue to struggle with rising costs.
The report comes amid ongoing concerns about the broader impact of inflation on consumer spending and the overall economy. As inflation remains a top concern, the New York/New Jersey region faces significant challenges in managing the economic fallout.
US Cities With Largest Inflation
| Overall Rank | MSA | Total Score | Consumer Price Index Change
(Latest month vs 2 months before) |
Consumer Price Index Change
(Latest month vs 1 year ago) |
| 1 | New York-Newark-Jersey City, NY-NJ-PA | 81.78 | 0.90% | 4.10% |
| 2 | Minneapolis-St.Paul-Bloomington, MN-WI | 80.77 | 1.30% | 3.50% |
| 3 | Detroit-Warren-Dearborn, MI | 70.95 | 1.00% | 3.40% |
| 4 | Chicago-Naperville-Elgin, IL-IN-WI | 66.19 | 0.60% | 3.70% |
| 5 | Urban Honolulu, HI | 65.79 | 0.00% | 4.50% |
| 6 | St. Louis, MO-IL | 65.69 | 0.80% | 3.40% |
| 7 | Seattle-Tacoma-Bellevue, WA | 62.85 | 0.40% | 3.80% |
| 8 | San Diego-Carlsbad, CA | 62.35 | 0.60% | 3.50% |
| 9 | Philadelphia-Camden-Wilmington, PA-NJ-DE-MD | 56.38 | 0.30% | 3.60% |
| 10 | Washington-Arlington-Alexandria, DC-VA-MD-WV | 55.67 | 0.20% | 3.70% |
About the Author/s
The New Jersey Digest is a new jersey magazine that has chronicled daily life in the Garden State for over 10 years.
1 comment
let’s stop blaming Covid. It’s done supply chain issues are fine it’s corporate greed that is driving inflation at this point. People had to find a way to pay for inflated prices during Covid because they had no choice and now the corporations think that were happily able to continue