Inflation is surging around the nation, hitting its highest mark in nearly 40 years. However, the most popular migration destinations around the country have been facing the worst surge in prices for goods and services, according to a new report.
Technology-powered real estate brokerage Redfin reported that popular destinations such as Atlanta, Phoenix and Tampa had double the inflation rates of high-priced San Francisco and New York, two of the top cities that people are moving away from, during the last three months of 2021.
During that time, the prices of goods and services in Atlanta, considered the 10th most popular migration destination, increased by 8.9% compared to the same time a year ago, according to Redfin.
Meanwhile, Phoenix “came in number two for both inflation and migration in the fourth quarter” as prices increased 8.4%, according to the report.