Report Reveals Dallas as Second US City with Major Inflation Issue

A recent report highlights the inflation struggles in the United States, with Dallas ranking second among cities facing significant inflation challenges.d

Rising prices have been a concern for many Americans, and a recently released report sheds light on the cities in the United States that are struggling the most with inflation in 2024. According to WalletHub analysts, the COVID-19 pandemic caused a 40-year high in the U.S. inflation rate but has since cooled down. As of February 2024, the year-over-year inflation rate sits at 3.2%, still above the target rate of 2%. The Federal Reserve may cut interest rates this year rather than increase them further.

Dallas has emerged as the second-highest city in terms of inflation rate, with an overall score of 77.78. The Consumer Price Index (CPI) changed by 0.90% in the latest month compared to the previous two months, and by 5.30% compared to the same period in 2023.

Factors driving inflation include unprecedented monetary easing, fiscal measures during the pandemic, global supply bottlenecks, and the Russian-Ukraine war. Environmental factors like heatwaves, droughts, and pollution also contribute to inflationary pressure.