As of August 2024, the United States' inflation rate is 4.2%, 0.2% above the target 2%. At this standard 2%, economies are supposed to be able to achieve price stability for prosperous growth. Labor shortages and the war in Ukraine are just some factors WalletHub believes the U.S. has surpassed this target rate.
Nationwide impacts like supply chain issues and interest rate expectations are still present, but housing prices seem to be a significant driver of price differentials among cities,
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