Americans Escaping Pricey Cities Bring Higher Housing Costs, Inflation With Them
Tampa, Fla., residents face some of the hottest inflation in the country, but when excluding sizzling housing costs, price increases are nearly as cool as in Minneapolis.
The disparity shows regional inflation is heavily influenced by home prices and rent costs. The Tampa area has one of the highest inflation rates in the nation, 7.7% in March, according to the Labor Department. But when shelter costs are removed from the index, the Florida metro’s rate was 3.8%—putting it in line with the Minneapolis area, where inflation excluding housing was 3.6%.
Tampa, Fla., residents face some of the hottest inflation in the country, but when excluding sizzling housing costs, price increases are nearly as cool as in Minneapolis.
The disparity shows regional inflation is heavily influenced by home prices and rent costs. The Tampa area has one of the highest inflation rates in the nation, 7.7% in March, according to the Labor Department. But when shelter costs are removed from the index, the Florida metro’s rate was 3.8%—putting it in line with the Minneapolis area, where inflation excluding housing was 3.6%.
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