As most Americans feel at least some relief with the inflation rate hitting its lowest point since 2021, the same can't be said for Florida. In fact, some areas of the Sunshine State — run by Gov. Ron DeSantis — are experiencing inflation "nearly double the national rate" as the rest of the country, according to WTSP.
And folks in Tampa have it the worst, followed by South Florida in general. While the national inflation rate — "rapidly cooling from its hottest pace in 40 years" according to CBS — hit a low 3% in June, Tampa-St. Petersburg-Clearwater had a Consumer Price Index of 7.3%.
From WTSP:
Florida Gulf Coast University's Dr. Victor Claar said Florida is outpacing others on inflation in large part due to housing. …
"It is an index. It's supposed to be what a typical American family buys in a given month," Claar said. "If you live in a place where shelter is increasing at faster rates than other parts of the country, the inflation rate will be faster because it's a really big expenditure that we all face every month."
On top of the ongoing demand for housing in Florida, the state faced a boom in population from COVID-19 and the growth appears to be ongoing from remote workers, retirees and snowbirds. …
"It's really affecting a lot of people. Not only me," [Tampa resident Nhick Ramiro] Pacis said.
Like other Floridians, Pacis has had to make adjustments. On top of working two jobs, he's cut down on TV subscriptions and dining out in an effort to save.
Claar said it'll be difficult to understand just how soon Florida's higher inflation rates will cool down. As desirable of a market as it was before for factors like real estate, it's undergone high interest since the start of the pandemic.
Ron DeSantis — whose shrinking poll numbers continue to stagnate — might want to rethink his campaign slogan "Make America Florida."
