Oct 17, 2022 - News
Tampa among metros with largest spike in inflation this fall
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Tampa Bay has one of the country's most extreme inflation rates.
Driving the news: Consumers in the area that includes Tampa, St. Petersburg and Clearwater are now paying 10.5% more for goods and services than a year ago, compared to the national rate of 8.2%, per the latest U.S. Bureau of Labor Statistics Consumer Price Index.
Why it matters: The figures released last week have become key political benchmarks in the 2022 election.
The big picture: Consumer prices nationwide continued to soar in September, with the Consumer Price Index rising 0.4% — double economists' expectations, Axios' Courtenay Brown writes.
- Industry experts say the latest report puts pressure on the Federal Reserve, which is already raising interest rates aggressively, to consider another historic rate hike in November.