Is inflation cooling off? It depends where you live

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from FoxBusiness,

The rapid pace of inflation eased in July for the first time in months, but much of the financial relief that Americans felt hinged on where they lived.

The Labor Department reported that the consumer price index, a broad measure of the price for everyday goods including gasoline, groceries and rents, rose 8.5% in July from a year ago, below the 9.1% year-over-year surge recorded in June. Prices were unchanged in the one-month period from June.

But in some parts of the country, the pace of inflation was much higher. Several Western states have become a hotbed for inflation, with the West South Central region – which includes Texas, Oklahoma, Arkansas and Louisiana – reporting that prices soared 9.7% in July.

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