These Texas Cities' Skyrocketing Inflation Rates Have Now Surpassed Major California Places

Two major Texas cities are being worryingly hit by inflation.

A recent study published today by WalletHub revealed that the Dallas and Houston areas are part of the top 10 list of U.S. cities where inflation is rising the most, being more affected than already expensive places in California like San Diego and Los Angeles.

The study compared the Consumer Price Index (CPI) for the latest month available to two months prior and one year prior. This metric was applied to 23 different metropolitan areas and Texas did not do well!

The metropolitan area of Dallas, Fort Worth, and Arlington is the fifth most affected region, surpassing Riverside, San Bernardino, and Ontario in California. The CPI change of the two-month comparison is 1% and 9.40% for the one-year comparison.

On the other hand, Houston, The Woodlands, and Sugar Land areas came in number 10, having sky-high inflation compared to Seattle, Tacoma, and Bellevue in Washington. This Texas area obtained a 0.10% CPI change for the two-month comparison and 9.50% for the one-year comparison.

“To borrow from Winston Churchill, raising the interest rate is the worst solution for fighting inflation, except for all others,” said Burton Abrams, Professor Emeritus of Economics, when being asked — as part of the study — about interest raising as a solution to control inflation. “I assume here that raising the interest rate also goes hand in hand with restraining the growth in monetary aggregates.”

According to the data, Anchorage in Alaska is the least affected metropolitan area by inflation in the country.