Several western states have become hotbeds of inflation in the United States The Ministry of Labor on Tuesday reported that the consumer prices In the mountain region of Montana, Wyoming, Idaho, Nevada, Utah, Colorado, Arizona and New Mexico, they rose a staggering 10.4% in March from a year earlier. This is well above the national average of 8.5%, which is already the fastest rate since December 1981. DESTRUCTION OF MARCH INFLATION: WHERE ARE THE PERFORMANCE PRICES THAT BREAK THE AMERICANS BETTER? This is at least partly due to rising property prices in the Rocky Mountain area as thousands of Americans try to relocate. In Phoenix, Arizona, for example, the typical home sold for $ 435,000 in December – 28% more than last year, according to real estate firm Redfin. The average price of a home in Colorado jumped by almost 20% last year. Other countries are also experiencing inflation that is well above the national average. Prices rose 9.5% in a few states, such as Texas, Oklahoma, Arkansas and Louisiana. Prices in the South Atlantic, meanwhile, rose 9.2%. This area includes Maryland, West Virginia, Virginia, North Carolina, South Carolina, Georgia and Florida. By comparison, prices in the mid-Atlantic – New York, New Jersey and Pennsylvania – were much lower, up 7.2% in March from a year earlier, slightly below the national average. The New England region also showed slightly below average inflation rates, with prices rising 7.4% year-on-year in March. Rising inflation erodes the strong wage gains American workers have seen in recent months. Real average hourly wages rose just 0.1% in January from a month earlier, as a 0.6% rise in inflation eroded overall wage growth by 0.7%, according to the Labor Department. On an annual basis, real profits fell by 1.7% in January. A petrol truck leaves a Marathon oil refinery after being refueled in Salt Lake City, Utah, on October 29, 2021. (George Frey / French Agency through Getty Images) / Getty Images) On average, Americans spend an additional $ 276 a month on inflation-driven goods and services, according to a new Moody’s analysis. analysis. The rise in inflation was bad news President Biden, who saw his acceptance rating fall as consumer prices rose. The White House blamed price increases on supply chain bottlenecks and more pandemic-caused turmoil in the economy, while Republicans have included it in the agenda of the president’s huge spending. GET FOX BUSINESS IN ENGINE BY CLICKING HERE Following the release of the data, Biden acknowledged that higher inflation is creating more financial stress for American families. However, he said there were “signs that we will be able to overcome this challenge”. “It’s a real blow to the street,” he told reporters at the White House. “It affects families when you go to a grocery store and pay more for everything you buy. It matters to people when you pay more for gas, although in some states we have the price below three dollars a gallon, but the thing is that it has not fallen. “fast enough. But I think it will happen.”
