Maybe you should mind the store, Ron

Created
Sat, 29/07/2023 - 06:30
Updated
Sat, 29/07/2023 - 06:30
How’s it going down in Florida these days? The inflation rate hit a two-year low in June but the financial relief may not be felt in Florida. The Federal Reserve raised the interest rate again on Wednesday in an effort to lower inflation. It comes as the Tampa Bay area still has among the highest inflation rates reported, according to the U.S. Bureau of Labor Statistics. Tampa-St. Petersburg-Clearwater has a Consumer Price Index, which is measured for inflation, of 7.3% for the year ended in May.  Meanwhile, the Consumer Price Index grew at an annual rate of 3% in June — the smallest increase since March 2021, the Labor Department said on Wednesday.  South Florida is also reporting similar numbers.  The CPI for Miami-Ft. Lauderdale-West Palm Beach is at 6.9% in June from the year before. […] Those like Nhick Ramiro Pacis of Tampa keep an eye on his budget from the rising costs at the grocery to his insurance. “It’s really affecting a lot of people. Not only me,” Pacis said.  Like other Floridians, Pacis has had to make adjustments. On top of working two jobs, he’s cut down on TV subscriptions and dining out in an effort to save.  Claar said it’ll be difficult to understand just how soon Florida’s higher inflation rates will cool down. As desirable of a market as it was before for factors like real estate, it’s undergone high interest since the start of the pandemic. “I don’t think a responsible economist at this point can tell you…