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Charlotte among cities with biggest jump in cost of living

By Charlotte Business Journal

Uptown Charlotte While inflation is squeezing consumers around the globe, in the U.S., those living in Charlotte are among those feeling it most acutely. (WSOC)

By Charlotte Business Journal

CHARLOTTE — While inflation is squeezing consumers around the globe, in the U.S., those living in Charlotte are among those feeling it most acutely. That’s according to the latest Cost of Living Index data from the Council for Community and Economic Research, which finds the Queen City has seen a larger-than-average increase in cost of living over the past three years.

READ MORE: Charlotte could have some of the most overvalued homes in the country

With a jump of 15.5% in cost of living from the first quarter of 2019 to the same time this year, Charlotte comes in at No. 18 among cities nationwide. That rate is considerably higher than the average of 9.76% — and surging housing costs have been a major factor, writes data reporter Connor Penegar for The Business Journals.

Read more here and check out a ranking of the 30 cities with the highest jumps in cost of living — including two more locales in the Carolinas.

(WATCH BELOW: Dreams of owning home cut short for some residents as prices in market skyrocket)

Dreams of owning home cut short for some residents as prices in market skyrocket

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