5 States with Highest Inflation Rates in the US

In this article, we will discuss the 5 states with highest inflation rates in the US. If you want to read our discussion on the macroeconomic environment in the US, you can go directly to the 25 States with Highest Inflation Rates in the US.

5. Nevada

Percentage Increase in Prices Since January 2021: 12.0%

Total Inflation Costs: $891

Nevada imposes a significant cost on its residents for housing and groceries. Currently, the state’s energy inflation is $157, transportation inflation is $307, and the shelter inflation cost is $182.

4. Arizona 

Percentage Increase in Prices Since January 2021: 14.6%

Total Inflation Costs: $894

The housing sector’s demand and supply challenges have contributed to an increase in Arizona’s overall cost of living. According to the JEC report, since January 2021, there has been an overall increase in prices of around 14.6%.

3. Utah

Percentage Increase in Prices Since January 2021: 16.5%

Total Inflation Costs: $976

Like Arizona, housing in Utah has also become expensive over the last few years. A typical home in the state costs around $506,072. According to the JEC report, the total inflation cost in Utah has reached $976.

2. Colorado

Percentage Increase in Prices Since January 2021: 12.0%

Total Inflation Costs: $1005

Beautiful landscapes and high mountains make Colorado an attractive place to live. According to consensus reports, the average housing costs in the state stand around $1,282 to $2,309 per month.

1. District of Colombia 

Percentage Increase in Prices Since January 2021: 15.1%

Total Inflation Costs: $1122

The District of Columbia leads the list of states with the highest inflation rate in the United States. It has a total inflation cost of $1,122, with transportation costs at $357 and energy costs at $172. Utilities in DC are 13% more expensive than the average cost in the US.