Some US Cities See Faster Inflation Than National Average, Prices Still High Nationwide

Residents in some US cities are seeing consumer prices rise faster than the national average, according to a WalletHub study. Honolulu and Miami have the steepest increases.

The US inflation rate has settled at 3.5%, down from a 40-year high but still above the Fed's 2% target.

Supply chain issues and a strong economy driving up wages and corporate profits are contributing to localized inflation.

US producer price inflation rose at the fastest pace in a year in March 2023, but less than expected. Wholesale inflation eased month-to-month.

Immigration reform and policies addressing corporate greed could help ease inflationary pressures, according to a University of Massachusetts economics professor.