A recent analysis of inflation across major U.S. cities highlights New York City as leading in rapid cost-of-living increases, with three Californian cities following closely behind.
This study, conducted by Plasma—a blockchain firm specializing in stablecoin payments—examined inflation patterns in the 30 most populous American cities. It utilized a weighted model considering various factors, including consumer price index data, housing expenses, average salaries, and essential monthly costs like groceries, utilities, and transportation.
According to findings reported by Fox 5, here are the ten cities experiencing the highest cost-of-living growth:
In New York, the average monthly income is around $5,250, yet housing and daily living costs are considerably high, with rent for a one-bedroom apartment in central areas nearing $4,600, as noted in the report.
Interestingly, even New Yorkers with high incomes are finding it tough to manage escalating costs, despite the regional inflation rate sitting at 3.4%.
