As outlined in this article in the Phoenix Business Journal, Inflation in the Phoenix metro area is almost 3% higher than the rest of the country.
The consumer price index rose 7.0% in the U.S. in 2021, the highest 12-month increase since 1982, and the cost of living grew even faster – by 9.7% – in the Phoenix metro area, the Bureau of Labor Statistics reported. Rising energy and transportation costs drove the surge, but most areas saw increases.
The bureau reported Wednesday that the consumer price index for the Phoenix-Mesa-Scottsdale area rose 9.7%, driven by surging prices for gas and transportation and increasing demand for housing. Some experts think a labor shortage propelled by Covid-19 will lead to a continuing rise in inflation.
“Americans and Arizonans are seeing rising prices across the board, whether it’s in the grocery aisle or at the gas station,” said Garrick Taylor, a spokesperson for the Arizona Chamber of Commerce and Industry. “They are spending more of their money for essentials, and their dollars aren’t going as far.”
By Emily Sacia – Cronkite News
Jan 13, 2022, 12:28am EST