The year-over-year inflation rate increased to 3.4% in April, and Dallas remains one of the American cities facing significant inflation challenges.
In February 2024, WalletHub reported that the year-over-year inflation rate sits at 3.2%, which is still above the target rate of 2%. The study provided insights into how inflation has changed in the short and long term by comparing the Consumer Price Index for the latest month to two months prior and one year prior.
The recent report found that the Dallas-Fort Worth Metroplex ranked the second-highest city nationwide for dealing with inflation issues.
DFW initially had an overall score of 77.78, and the Consumer Price Index changed by 0.90%.
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A few months later, the personal finance website conducted another study to reveal city inflation changes after the rate increased. Analysts again compared 23 major Metropolitan Statistical Areas by using the Consumer Price Index, a key metric for measuring inflation.
According to May's report, Dallas-Fort Worth saw a slight change, but not a great one. The metroplex ranked third, behind Honolulu and Detroit, as one of the top cities with the biggest inflation problems. This indicates that inflation has affected the cost of living in Dallas, posing challenges for its residents.
Dallas-Fort Worth scored 62.00 overall, with a stagnant CPI of 0.90% in the latest month compared to the previous two months. The CPI also dropped to 4.90% in the latest month compared to the same time interval in 2023.
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Surprisingly, the Houston-Woodlands-Sugar Land metro area dropped out of the Top 10 cities with the highest inflation rates nationwide and landed in 20th place with an overall score of 16.52.
The study also found that in the last month, the CPI in Houston has changed by 0.80% compared to two months before, and it has lowered to 2.90% compared to this time last year.
The full report, methodology, and additional expert comments can be read on WalletHub's site.
