Tampa Bay residents see 7% increase in consumer price index
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Living in Tampa Bay is still a pain in the wallet.
State of play: The consumer price index (CPI) in the Tampa metro was up 7.3% in May compared to the same time last year, per the U.S. Bureau of Labor Statistics.
Why it matters: That's the largest spike among market Axios analyzed, well over the average national increase of 4%.
The big picture: Inflation has decelerated, but remains uncomfortably high for economic policymakers — the latest sign the problem is not yet over, Axios' Courtenay Brown and Neil Irwin report.
Zoom in: Tampa Bay's spike is driven by more people moving here, especially higher income people, University of South Florida economics professor Michael Snipes tells Axios.
Yes, but: Things are steadily improving here and across the country, Snipes noted. And our jobs, labor force participation and wages are all key signs of a good economy.
- "Other than inflation we're looking pretty good," Snipes said.