CNBC published this video item, entitled “Where Inflation Is Worst In The U.S.” – below is their description.
Americans moved around a lot over the past two years, and those destinations also happen to have the highest inflation rates in the U.S. The relationship between migration and inflation has strengthened significantly as more people relocated from expensive coastal cities to more affordable metro areas, according to an analysis released by Redfin. Phoenix, Atlanta and Tampa are among the metro regions seeing both hot inflation and the pandemic’s surge of home buying. Watch the video above to learn more about why migration impacts inflation, how the Bureau of Labor Statistics measures rising costs, the role of wages and what may be next for these hot spots.
CNBC YouTube Channel
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About This Source - CNBC
CNBC is an American pay television business news channel owned by NBCUniversal News Group, a division of NBCUniversal, with both indirectly owned by Comcast. Headquartered in Englewood Cliffs, New Jersey, the network primarily carries business day coverage of U.S. and international financial markets. Following the end of the business day and on non-trading days, CNBC primarily carries financial and business-themed documentaries and reality shows.
In economics, inflation refers to a general progressive increase in prices of goods and services in an economy. When the general price level rises, each unit of currency buys fewer goods and services; consequently, inflation corresponds to a reduction in the purchasing power of money.
Phoenix is the capital of the southwestern U.S. state of Arizona. Known for its year-round sun and warm temperatures, it anchors a sprawling, multicity metropolitan area known as the Valley of the Sun. It’s known for high-end spa resorts, Jack Nicklaus–designed golf courses and vibrant nightclubs. Other highlights include the Desert Botanical Garden, displaying cacti and numerous native plants.