It is no secret that prices on housing, transportation, clothing, food, and several other items have gone up since 2020, but which U.S. cities have seen the greatest inflation in 2021?
Commodity.com, a site that helps with investing and trading, revealed a list of the largest U.S. metropolitan areas with the highest inflation rates in 2021.
As a nation, the Consumer Price Index (CPI) has increased in multiple different categories in year-over-year percentages. For example, the report states that this year, food and beverages had a 2.4% increase, housing increased by 3.1%, transportation increased by 21.5%, and energy went up by 24.5%.
To determine which cities had the highest inflation, researchers looked at the Consumer Price Index (CPI) Databases from the U.S. Bureau of Labor Statistics. Here is what the report said about how they found which metro areas had the highest inflation growth this year:
"Researchers also calculated the year-over-year changes for the following CPI Indexes: food and beverage, housing, apparel, transportation, and energy."
So, which Minnesota cities made the list?
- No. 14: Minneapolis, St. Paul, and Bloomington
Commodity.com broke down how much of a CPI increase Minneapolis, St. Paul, and Bloomington saw this year:
- All items: +4.6%
- Food and Beverage: +1.9%
- Housing: +1.4%
- Apparel: +9.9%
- Transportation: +21%
- Energy: +24.4%
To view the full report, click here.