These are the 10 US cities that are being hit hardest by inflation right now

"WalletHub ranked US cities by changes in inflation over the past month and year. Tampa was ranked as having the worst inflation problem in the country. The Fed's interest rate cut might influence how inflation continues to rise. The Federal Reserve cut interest in efforts to stimulate a slow labor market, reigniting concerns about rises in inflation. The decision comes after the August jobs report showed a dire picture of the labor market, with more job seekers than openings throughout the country."

"While the rate cut aims to stimulate hiring, it could also contribute to rising inflation rates across the country. In a study released on September 11, WalletHub examined how inflation is affecting people across the US by comparing how prices have increased month over month and over the past year in two dozen metropolitan areas. The study then ranked the metropolitan areas based on which had seen a stronger impact of inflation in both the short- and long-term."

"Currently, the personal consumption expenditures price index, which the central bank uses to measure inflation and set interest rates, sits at 2.6% according to July data from the Bureau of Economic Analysis. This measure is higher than the Fed's long-term 2% target. The Bureau of Labor Statistics, on the other hand, reported that prices for consumers had gone up an average of 2.9% over the past year, per the August release of consumer price index data on September 11."

The Federal Reserve cut interest rates to stimulate a slow labor market, raising concerns about renewed inflationary pressure. The rate cut followed an August jobs report showing more job seekers than openings across the country. WalletHub compared month-over-month and year-over-year price changes in two dozen metropolitan areas and ranked those areas by short-term and long-term inflation impact. The personal consumption expenditures price index stood at 2.6% in July, above the Fed's 2% target. The consumer price index rose 2.9% year over year in August. Tampa ranked as the city with the worst inflation problem, and ten cities showed the largest recent increases.

Read at Business Insider