A new study found that the Dallas-Fort Worth-Arlington area ranked among the top U.S. metropolitan areas for the highest inflation growth.
According to the financial website WalletHub, which conducted the report, the North Texas towns experienced the ninth-largest rise in inflation out of 22 Metropolitan Statistical Areas (MSAs) that were compared in the study.
Ranking just ahead of Dallas-Fort Worth-Arlington were Riverside-San Bernardino-Ontario, California (eighth place); San Diego-Carlsbad, California (seventh); and Atlanta-Sandy Springs-Roswell, Georgia (sixth).
The metropolitan area with the highest inflation rise was discovered to be Tampa-St. Petersburg-Clearwater, Florida, rounded out by the rest of the top five which included: Philadelphia-Camden-Wilmington, PA-NJ-DE-MD (second); Phoenix-Mesa-Scottsdale, Arizona (third); Detroit-Warren-Dearborn, Michigan (tied fourth); and Seattle-Tacoma-Bellevue, Washington (tied fourth).
To determine where inflation grew the highest, WalletHub analyzed the Consumer Price Index (a measure of inflation) of each of the 22 respective MSAs.
Specifically, the financial website examined the Consumer Price Index (CPI) change between the latest month when data was made available versus two months prior and the change between the most current month versus a year ago.
According to the study, the Dallas-Fort Worth-Arlington area’s CPI increase between the latest month and two months beforehand was 0.80%, which actually ranked near the bottom of the list at 17th place.
On the flip side, the North Texas MSA had a CPI change of 7.50% between the most recent month recorded in comparison to a year prior. This rise in CPI ranked Dallas-Fort Worth-Arlington fourth overall in this key metric, which goes to show the substantial inflation change that the area has gone through in a matter of 365 days.
To gather the key metrics for the study, WalletHub utilized CPI data that was gathered from the U.S. Bureau of Labor Statistics.
To read the study in full, head over to the WalletHub website.