The year-over-year percentage change in the CPI has topped 5% in every month since June 2021 and reached 7.5% in January of 2022. Researchers looked at the overall cost of living compared to the national average—taking into account consumer goods,…
One common measure of inflation is the, calculated by the U.S. Bureau of Labor Statistics. The CPI measures prices paid for a set of typical consumer expenses, including food, energy, transportation, apparel, shelter, and more. The year-over-year percentage change in the CPI has topped 5% in every month since June 2021 and reached 7.5% in January of 2022.
Most common measures of inflation are simply an average and may not clearly reflect differences for individual households. One major factor affecting how consumers experience prices across a range of goods, services, and housing is geography. According to data from the U.S.
dataset, which tracks relative cost of living differences across geographies. To determine the locations where Americans’ incomes go furthest, researchers at looked at the overall cost of living compared to the national average, taking into account consumer goods, services, and housing. In the event of a tie, the location with the larger per capita personal income was ranked higher.The most affordable small _ midsize metros in the USCost of housing :