ATLANTA — The national average inflation for the U.S. has hit 6.2%. Atlanta, however, has dwarfed that statistic and now leads the nation's major cities in price hikes.
As the U.S. attempts to recover from the pandemic, inflation has become a notable metric for the nation. In October 2021, consumer prices rose within the U.S. at a faster pace than any annual pace since 1990, according to Bloomberg economists.
Atlanta's inflation rose in October 2021 by an even higher 7.9% from a year ago, according to data from the Bureau of Labor Statistics. The Bureau of Labor Statistics' data, however, does not list every major city within the U.S. Other major cities may theoretically find themselves on the organization's future data spreads at even higher inflation rates than the Peach State's capital.
While Atlanta's inflation is staggering compared to the national average, it also dominates other major cities such as San Francisco's 3.8% and New York's 4.3% increases.
The Bureau of Labor Statistics notes that there has been a broad increase in the indexes concerning energy, shelter, food and used vehicles. The gasoline index alone rose 6.1%.
People have been noticing the price hikes, especially amid supply shortages. For months, cargo ships have been crowding ports as truck drivers shift their strategy as they struggle to keep up with demand. With items in short supply, shipping prices increases and businesses not knowing when they can restock, companies have been saying they have no choice but to tack the extra costs on the consumers. It seems Atlanta residents are seeing the most dramatic price tag changes.
This all comes on the heels of the Biden Administration's $1 trillion bipartisan infrastructure bill passing the House which economists say could be another inflation driver.
As the infrastructure bill is scheduled to cross President Biden's desk on Monday, the Biden Administration's separate $1.85 trillion plan designed to bolster climate change, family and health programs is targeted for a vote later this month.