The Miami metropolitan area saw the highest increase in inflation compared to last year, a recent WalletHub report found.
The personal finance website's "Changes in Inflation by City" report compared 23 major metropolitan statistical areas across two measures of the consumer price index, which measures inflation. WalletHub compared the consumer price index for the latest Bureau of Labor Statistics data to two months earlier and a year earlier.
Year-over-year inflation rate sits at 3.1% in January, which is above the Federal Reserve's target of 2%. However, the agency is expected to cut interest rates this year rather than raise them.
Here are the five metropolitan areas where inflation is most persistent, based on the increase in the consumer price index from the latest month available compared to last year:
Miami — 5.7%
Dallas — 5.3%
Detroit — 4.5%
Houston — 4.5%
Seattle — 4.4%