Posted 11/17/2023, 6:04:42 PM
Miami's Soaring Inflation Rate Reflects an Economic Boom With a Cost
- Miami metro area has highest inflation rate in US at 7.4%, more than double national average
- Driven by influx of people moving there for warmer weather, lower taxes, boosting housing/energy demand
- Financial firms like Blackstone, Citadel setting up offices contributed to higher prices
- Early promise of being cost competitive with lower taxes in FL, but big paychecks pushing up inflation
- Nice weather drawing people in, but high costs that come with an economic boom still an issue