Chicago Inflation Is Second-Worst In The Nation: Study

CHICAGO — A new report on how inflation is affecting major cities across the U.S. finds that Chicago has the second-biggest inflation problem out of any metro area.

The WalletHub study published Wednesday finds that the Chicago area saw one of the largest consumer price index changes; 0.9 percent in the past two months, second only to the Twin Cities area, which had a two-month increase of 1.3 percent.

Chicago's consumer price index change from a year ago sits at 3.8 percent.

"To determine how inflation is impacting people in different cities, WalletHub compared 23 major MSAs (Metropolitan Statistical Areas) across two key metrics involving the Consumer Price Index, which measures inflation," the report states.

"We compared the Consumer Price Index for the latest month for which BLS data is available to two months prior and one year prior to get a snapshot of how inflation has changed in the short and long term."

These metros have the biggest inflation problem:

1. Minneapolis — 3.5 percent CPI since one year ago
2. Chicago — 3.8 percent CPI since one year ago
3. Detroit — 3.5 percent CPI since one year ago
4. Honolulu — 4.5 percent CPI since one year ago
5. New York — 3.7 percent CPI since one year ago

These metros have the smallest inflation problem:

19. San Francisco — 2.7 percent CPI since one year ago

20. Atlanta — 1.7 percent CPI since one year ago

21. Riverside — 2.8 percent CPI since one year ago

22. Phoenix — 2.3 percent CPI since one year ago

23. Anchorage — 1.5 percent CPI since one year ago

Check out the entire study here.