Seattle tops a recent ranking of U.S. cities with the steepest inflation surge.
Why it matters: Residents already burdened by high housing and living costs may feel sharper pain from even small price jumps.
How it works: WalletHub’s August report compared 23 major metro areas using Consumer Price Index (CPI) data from the Bureau of Labor Statistics.
- Seattle had the largest short-term jump in prices of any metro studied: a 1.4% CPI increase from April to June, WalletHub analyst Chip Lupo tells Axios.
- That, combined equally with the city’s 2.7% CPI change over the past year, was enough to push the city to the top, per Lupo.
Yes, but: While a No. 1 ranking is eye-catching, the city’s inflation rate is running about the same as the national average, says Paul Turek, an economist with the state Employment Security Department…