HOUSTON, Texas -- By now, everyone has heard plenty about the nine-letter word that's on everybody's mind these days - inflation. This reflects a rise in prices, for everything from gas and groceries and cars to health care, coupled with a decline in buying power.
The video above is a break down of inflation.
In August, the U.S. inflation rate stood at 8.3%, according to the U.S. Bureau of Labor Statistics. That's down from a four-decade high of 9.1% in June. For Houston consumers, though inflation remains above the U.S. rate. And it turns out, Houston is saddled with one of the highest inflation rates among major U.S. metro areas.
[Ads /]
Houston's inflation rate jumped 9.5% from August 2021 to August 2022, according to a new study from personal finance website WalletHub. That means prices for a host of goods and services climbed 9.5% from August 2021 to August 2022.
Continue reading this article from our ABC13 partners at Houston CultureMap.
SEE ALSO:
[Ads /]