WASHINGTON — Consumer prices rose by an average of 7% in U.S. cities last year, the steepest rise in decades, and they grew even faster in the Phoenix metro area, according to new data from the Bureau of Labor Statistics.
The bureau reported Wednesday that the consumer price index for the Phoenix-Mesa-Scottsdale area rose 9.7%, driven by surging prices for gas and transportation and increasing demand for housing. Some experts think a labor shortage propelled by COVID-19 will lead to a continuing rise in inflation.
“Americans and Arizonans are seeing rising prices across the board, whether it’s in the grocery aisle or at the gas station,” said Garrick Taylor, a spokesperson for the Arizona Chamber of Commerce and Industry. “They are spending more of their money for essentials, and their dollars aren’t going as far.”
