Metro Area Consumer Price Index Annual Change: Home Prices And Rent A Major Factor: Chart

From The Wall Street Journal, "Americans Escaping Pricey Cities Bring Higher Housing Costs, Inflation With Them: Inflation in some warm-weather metro areas is more than 2 percentage points higher than national rate" by Gabriel T. Rubin

...regional inflation is heavily influenced by home prices and rent costs. The Tampa area has one of the highest inflation rates in the nation, 7.7% in March, according to the Labor Department. But when shelter costs are removed from the index, the Florida metro’s rate was 3.8%—putting it in line with the Minneapolis area, where inflation excluding housing was 3.6%.

Rising housing costs and elevated inflation in growing, warm-weather metros such as Tampa, Phoenix and Atlanta reflect people migrating out of the Northeast and Midwest to the Sunbelt, said Rajeev Dhawan, director of the Economic Forecasting Center at Georgia State University.

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                                           Chart Source: The Wall Street Journal