Prices of everyday goods continue to rise across the country, but in some places the situation is worse than others — especially for residents of the Dallas-Fort Worth area.
Although the national inflation rate on an annual basis decreased to 3%, it remained at the level of about 5% In Dallas-Fort Worth in 2024, According to a new report from WalletHub,.
That rate is second only to Honolulu among a select group of 23 major U.S. metropolitan areas, and higher than other cities known for their relatively high cost of living, including New York City and Los Angeles. Dallas-Fort Worth’s inflation rate has also been steadily rising by 1 percent over the past two months — making it the worst city in the country for inflation, according to the study.
The relatively high inflation rate can be attributed to “a significant housing shortage, coupled with restrictive government policies that limit new construction,” which has caused home prices in Dallas-Fort Worth to rise, says analyst Cassandra Happi of WalletHub.
Other factors include “significant increases in energy prices,” including electricity bills, and persistent inflation in key areas such as medical care and transportation services. Medical costs have risen dramatically. Related to hospital unification In recent years, while transportation costs It is largely related to the effects of urban expansion.According to the Dallas Morning News.
With the exception of Dallas-Fort Worth, Honolulu is the only other city in the study with an annual inflation rate of 5% or higher.
Below are WalletHub’s rankings of the metro areas with the worst inflation rates, from worst to best. The rankings are based on an evenly weighted index of year-over-year inflation and inflation over the past two months as of June 2024.
1. Dallas-Fort Worth, Texas
- Change two months: 1.00%
- Change for one year: 5.00%
2. Urban Honolulu
- Change two months: 0.70%
- Change for one year: 5.20%
3. New York City
- Change two months: 1.10%
- Change for one year: 4.20%
4. Detroit
- Change two months: 1.00%
- Change for one year: 3.40%
5. Riverside-San Bernardino-Ontario, California
- Change two months: 0.60%
- Change for one year: 4.00%
5. Boston
- Change two months: 0.60%
- Change for one year: 4.00%
7. St. Louis
- Change two months: 0.80%
- Change for one year: 3.40%
8. Washington, D.C.
- Change two months: 0.80%
- Change for one year: 3.30%
9. Seattle
- Change two months: 0.40%
- Change for one year: 3.80%
10. San Diego
- Change two months: 0.50%
- Change for one year: 3.20%
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