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Americans around the country are experiencing vastly different inflation rates depending on where they live in the U.S., with the latest inflation data showing that consumers in the Northeast and Midwest are facing more inflation than their peers around the country.
The Labor Department released its inflation report for October on Wednesday which found that the consumer price index (CPI) — a broad measure of how much everyday goods like gasoline, groceries and rent cost — was up 2.6% from a year ago for the U.S. as a whole, in line with expectations as inflation ticked higher amid a broader cooling trend.
However, the pace of inflation is much faster in certain parts of the country than it is in other areas.
The Northeast region saw 3.5% inflation in October compared to a year ago, the fastest of the four geographic regions analyzed by the Bureau of Labor Statistics and well above the national inflation rate. Within the region, New England had 3.3% inflation while the Middle Atlantic had 3.6%.
INFLATION RISES 2.6% IN OCTOBER, IN LINE WITH EXPECTATIONS
The Northeast region had the highest inflation in the country in October, with New York the highest among metro areas. (Gary Hershorn/Getty Images / Getty Images)
The Midwest region had 2.6% year-over-year inflation in October, slightly higher than the 2.5% reading a month ago. The South experienced a similar inflation rate of 2.5% in October, though price growth accelerated more quickly and was up from 2.1% in September.
The West region experienced the slowest inflation of the four regions in October,
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