Dec 13, 2022 - Economy

Nationwide inflation slowdown

Year-over-year change in Consumer Price Index
Data: BLS; Chart: Kavya Beheraj/Axios

How Americans experience inflation depends not just on what they purchase, but also where they live. November’s Consumer Price Index report offered good news on that front: price gains slowed in every region, most notably in the West.

  • There, inflation rose 7.1% in the 12 months through last month, dropping a full percentage point from the last reading in October.

Between the lines: Of the major regions, inflation is highest in the South — thanks in part to shelter costs accelerating at a more rapid pace.

  • Prices in that region increased 7.7% in the year ending in November, still well-below the peak of 9.8% in June.

The South is home to one metro area where prices are rising faster than most others tracked by the government.

  • In Florida's Tampa Bay area, prices rose 9.6% over the 12 months ending in November — falling below 10% for the first time since January.
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