Housing Costs Make FL Nation’s “Inflation Hotspot”

July 11, 2023 Economy, Republicans

Florida is America’s inflation hotspot because of a persistent problem with sky-high housing costs. The Miami-Fort Lauderdale-West Palm Beach area has the highest inflation rate of metro areas with more than 2.5 million residents, with a 9% inflation rate for the 12 months ended in April.

That’s more than double the national average of 4%, according to data from the Consumer Price Index. The Tampa-St. Petersburg-Clearwater metro had the third-highest inflation rate in the country, at 7.3% for the year ended in May.

Florida’s population grew the most of any state from July 2021 to July 2022 because of domestic migration, according to the Census Bureau’s latest estimates. During that same period, Florida also had the fastest population growth by percentage, the first time it has notched that top spot since 1957.

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Ron wants to make America Florida. Dictator Desantis comes with a cost. Inflation capital of the nation. https://t.co/5Jr7Hc9AxF

— Nikki Fried (@NikkiFried) July 11, 2023