Arizona Senator Mark Kelly has been a rubber stamp for Joe Biden’s inflationary spending policies. It turns out, Arizona has been hit with some of the nation’s worst inflation. Bloomberg’s Michael Sasso and Alex Tanzi report that Phoenix has recorded 13% inflation, writing:
Inflation soared to 13% in Phoenix last month, a record for any US city in data going back 20 years and more than twice as high as San Francisco.
Other cities across the South and Southwest saw double-digit increases in consumer prices, with the Atlanta metropolitan area posting annual inflation of 11.7% and Miami reaching 10.7%, according to Bureau of Labor Statistics data.
Overall inflation was resurgent in August, dashing hopes of a nascent slowdown even as gasoline prices declined. But the national average of 8.3% masks growing disparities among cities, making the Federal Reserve’s fight against inflation more complicated.
In San Francisco, consumer prices rose 5.7% in the 12 months through August, while in Los Angeles the rate was 7.6%. In the New York city metro area, prices rose 6.6%, a slight acceleration from 6.5% in July.
Meanwhile, high housing costs are dogging the Sun Belt, where a shortage of apartments and houses and an inflow of investors have been driving up rents. Shelter costs in metropolitan Phoenix climbed 19% in August from the previous year, compared with a 6.2% gain nationwide.
The price surge in Phoenix and Atlanta, Arizona and Georgia’s biggest cities, respectively, coincide with two contested US Senate races at the midterm elections in about eight weeks.
Action Line: Arizonans are going to need quarters in their loafers to fight that kind of inflation. Better yet, just give Mark Kelly the boot. Click here to subscribe to my free monthly Survive & Thrive letter and we’ll beat inflation together.
E.J. Smith - Your Survival Guy
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