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.
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.
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