Chicago area ranked tenth in US for inflation in December

But in Miami, prices are still sky high. Shelter costs surged by 3.9% from October to December, according to Consumer Price Index figures. Housing prices in CPI tend to lag real-time rental changes because most tenants are locked in long-term leases. Still, even private data show monthly asking rent prices in the South Florida city aren’t slowing down as fast as other parts of the country. 

Nationwide inflation dropped to 6.5% from 7.1% in November, in large part because of falling gasoline prices that offset housing and food costs.

The federal government tracks prices in 23 metro areas, with New York, Los Angeles and Chicago reporting every month and the other cities alternating every other month. Among the cities that reported inflation in November, Tampa, Florida, led with an annual price increase of 9.6%.

Not a subscriber? We have options that meet your needs.