TAMPA, Fla. (WFLA) — In a first look at Tampa area inflation since 2021, Tampa’s inflation rate approached a 10% higher rate for costs across all consumer items.
In November 2021, the U.S. Bureau of Labor Statistics reported national inflation had reached 6.8%. A Tampa-specific inflation report from the U.S. Bureau of Labor Statistics in the same month showed Tampa was even higher, at 8%. Now in 2022, Tampa’s inflation rate is a reported 9.6%.
The national inflation report from the BLS reported a 7.5% inflation rate for January. The increased prices are hitting consumers where it hurts, in groceries, utilities, transportation and housing. For the first time in 2022, we now have local inflation levels for the Tampa-St. Petersburg-Clearwater metropolitan area.
For the Tampa area, the cost of food was 6.2% higher, while nationally it was up 7% collectively. The cost of gasoline was also slightly lower than the national inflation level, at 38.6% compared to the country’s 40%. However, the costs of meats, poultry, fish and eggs, as well as housing, were where Tampa was far above the nation.
While the U.S. had a 12.2% increase in prices year-over-year, for meats, poultry, fish and eggs, the Tampa area’s cost was 21.1% higher than in 2021. Housing was also similarly higher in the Tampa area compared to the country overall. U.S. housing costs for rent and mortgages were up 4.4% and 4.1%, respectively, Tampa’s costs for the same expenses were 10.8% and 10.2% higher compared to 2021.
Transportation costs were just below the national increases, where U.S. used cars and trucks were up 40.5%, the Tampa area’s were up 40.2%, instead. New vehicles were 12.2% more expensive nationally but were 14.1% higher in the Tampa area.
Essentially, the Tampa metro area continues to see housing and food costs rise. While not every item is higher than what the bulk of the U.S. is paying at the grocery store, for American’s most costly monthly expenses, Tampa is still rising above the rest.