Houston in top 10 cities with inflation rising the most, WalletHub says

How inflation could lead to higher interest rates, additional struggle for credit card users

A new report on inflation is out and FOX 26 Business Reporter Tom Zizka breaks explains how inflation slowed slightly in January, but not as much as was expected.

HOUSTON - Inflation continues to rise across the nation, though in some places it's increasing a lot faster than in others.

WalletHub released a report detailing 22 cities whose inflation is rising the most. In their overall ranking, Houston-The Woodlands-Sugar Land was seven overall for the highest rising inflation. Philadelphia was ranked first and Detroit was ranked second, the report says.

SUGGESTED: Fed officials signal more rate hikes likely amid sticky inflation, minutes show

Another major metropolitan area in Texas, the Dallas-Fort Worth-Arlington area ranked 10 on the list.

Houston also tied for second with Detroit with the higher Consumer Price Index (CPI) change compared to the latest month to two months ago, growing by 1.9%. Compared to last year, the metropolitan had a change of 5.2% in CPI.

Phoenix-Mesa-Scottsdale metropolitan had the highest change in CPI compared to the latest month to last year with 8.5%.

READ MORE STORIES ON THE ECONOMY

To see the entire report by WalletHub in full detail, visit their website.