If you’ve been shopping in Metro-Atlanta lately, you’ve likely noticed the higher prices on just about everything.
As inflation surges nationwide, the most popular migration destinations are facing the worst surge in prices for goods and services, according to a new report.
Atlanta, Tampa and Phoenix are ranked the highest among cities with the largest inflation rates, according to real estate brokerage Redfin. The cities had double the inflation rates of places like New York and San Francisco, two cities many people are leaving from.
Prices in Atlanta have increased by 8.9%, compared to this time last year, according to the report.
Phoenix saw an increase in both inflation and migration during the fourth quarter of 2021, with prices increasing 8.4%.
Meanwhile, San Francisco and New York saw more people leave, but had lower inflation rates at 4.6% and 4%, respectively.
Home prices are rising quickly more popular migration destinations, including Atlanta. The city’s home prices were up 22.8% between December 2020 and 2021, compared to a 10.3% increase in San Francisco.
Inflation has hit its highest mark in nearly four decades. Experts say migration continues to be a driver for higher costs in most cities.
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