Inflation & Prices
Miami’s Inflation Ranks Highest in the US
- Migration has brought more spending and higher housing costs
- Miami’s rate, at 7.4%, is more than double the US average
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Floridians aren’t seeing the let-up in price pressures that other Americans are, as an influx of newcomers is driving up housing costs and fueling a booming economy.
Miami’s annual inflation rate of 7.4% in October was the highest of the US metro areas tracked by the Bureau of Labor Statistics, and more than double the national average. Tampa stood at 6.7% in September. By comparison, Phoenix and Atlanta, two other inflation hot spots last year, have seen their rates drop to roughly 3%.