The D.C. area is listed 21st, and Baltimore fifth in a new study measuring inflation in U.S. cities amid a 40-year high in inflation.
D.C. saw an inflation of 6.5% compared to last year. Baltimore’s inflation was 10.2% over the same period, according to the WalletHub study.
Inflation is reaching new highs for many reasons, according to the study. Some factors leading to high inflation include the COVID-19 pandemic, the war in Ukraine and labor shortages.
The Federal Reserve is notably increasing interest rates in an effort to reduce inflation.
The WalletHub study measured 23 metropolitan areas using data from the latest Consumer Price Index, released by the Bureau of Labor Statistics Thursday.
Nationally, inflation rose 0.4% in September. Compared to last year, consumer prices are up 8.2%, according to the bureau.
The Consumer Price Index helps understand how much people nationwide pay for things such as food, energy, medical bills and housing.
The cities seeing the highest inflation are Phoenix, Mesa and Scottsdale in Arizona with a rate of 13%, according to WalletHub.