Detroit Area Among Hardest Hit By Inflation In US: Study

METRO DETROIT — The Detroit area is among the hardest hit metro region's for inflation across the nation, according to a new report.

The WalletHub study published Wednesday finds that the Detroit-Warren-Dearborn area saw one of the largest consumer price index changes; 0.8 percent in the past two months.

The metro's consumer price index change from a year ago sits at 3.50 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, MN — 3.50% CPI since 1 year ago
2. Chicago, IL — 3.80% CPI since 1 year ago
3. Detroit, MI — 3.50% CPI since 1 year ago
4. Honolulu, HI — 4.50% CPI since 1 year ago
5. New York, NY — 3.70% CPI since 1 year ago

These metros have the smallest inflation problem:

19. San Francisco, CA — 2.70% CPI since 1 year ago
20. Atlanta, GA — 1.70% CPI since 1 year ago
21. Riverside, CA — 2.80% CPI since 1 year ago
22. Phoenix, AZ — 2.30% CPI since 1 year ago
23. Anchorage, AK — 1.50% CPI since 1 year ago

Check out the entire study here.