(The Center Square) — The metro Atlanta area has some of the highest inflation rates of any city in the country.
WalletHub, a personal finance website, compared 23 major Metropolitan Statistical Areas using two key Consumer Price Index-related metrics.
According to a new analysis, the Atlanta area ranked fifth among the metropolitan areas with the biggest inflation problems. While the Miami area topped the list, Atlanta has consistently ranked among the cities with the highest inflation, previous WalletHub reviews reveal.
“The Atlanta-Sandy Springs-Roswell MSA has registered a 1.10% spike in inflation in the last couple of months, as well as an almost 5% increase compared to last year,” WalletHub analyst Cassie Happe told The Center Square via email. “The Atlanta metro area is experiencing fast economic growth, which comes with increased demand for goods, services, housing, and infrastructure.
“This growth can easily drive up prices if the supply doesn’t keep up,” Happe added. “One of the most important things policymakers can do to help residents keep up with inflation is to support minimum wage increases for local companies or to incentivize businesses to raise wages.”
Last month, Georgia Gov. Brian Kemp, a Republican, suspended the state’s excise tax on motor and locomotive fuel, citing high inflation and the policies of President Joe Biden. The governor extended the suspension, which remains in effect until 11:59 p.m. on Nov. 11.
Meanwhile, a new National Federation of Independent Business survey found inflation remains a top concern among business owners nationwide.
“Steps such as Governor Kemp’s decision to extend the suspension of Georgia’s fuel tax helps relieve some of the financial pressure on small businesses, but inflation continues to drive up the cost of living, working, and doing business here and across the country,” NFIB State Director Hunter Loggins said in an announcement. “It’s driving up the cost of everything from raw materials to labor, and it’s forcing customers to think carefully about the goods and services they buy.”
