News Summary

Recent data from the U.S. Bureau of Labor Statistics shows that inflation in the United States has reached its lowest year-over-year increase since February 2021, with a CPI rise of only 2.3%. Atlanta’s inflation rate remains one of the nation’s lowest, increasing by just 1.9% over the past year. Key factors include supply chain challenges and energy costs, while local consumers experience minor price hikes. The average gas price stands at $2.93, and Atlanta’s rental costs have only increased by 0.4% from February to April, indicating relative price stability.

Atlanta, GA — Inflation in the United States has reached its lowest year-over-year increase since February 2021, according to data released by the U.S. Bureau of Labor Statistics (BLS). The Consumer Price Index (CPI) for all urban consumers marked a 2.3% increase for the year ending in April, reflecting a slight decline of 0.1% from March figures. This is the smallest annual inflation increase in more than two years.

In the metropolitan area of Atlanta, inflation rates are among the lowest in the nation, with a minimal CPI increase of just 0.1% from March to May. Over the past year, inflation in metro Atlanta has risen by 1.9%, as reported by a WalletHub study, indicating relative price stability compared to other regions.

Several factors have contributed to the national inflation trends, including the ongoing conflict in Ukraine and persistent labor shortages. While these global influences are at play, metro Atlanta’s consumers have noted only minor price increases locally, particularly in food expenses within restaurants, cafeterias, and vending machines, which saw a maximum rise of 0.8% from February to April. Additionally, energy consumption in metro Atlanta has decreased over the past year, reflecting a positivity for household budgets.

A closer look at the national level reveals that food costs overall rose by 2.8% in April compared to the prior year, primarily driven by a significant increase of 7% in prices for meats, poultry, fish, and eggs, with egg prices alone soaring by an alarming 49.3%. In metro Atlanta, the price hike for these essential food items was recorded at 6.6%, while dairy products increased by 1.6% and nonalcoholic beverages rose by 3.2%. Conversely, prices for fruits and vegetables experienced a decrease of less than 1%.

Fuel prices have seen notable fluctuations as well, with gas prices dropping by 11.8% nationwide. In Georgia, as of Thursday, the average price of regular gasoline was reported at $2.93. While energy costs have overall lessened, electricity bills are increasing, with a nationwide surge of 3.6% attributed to a 15.7% climb in natural gas prices. To address these energy costs, Georgia Governor Brian Kemp announced a tentative agreement with Georgia Power, aiming to freeze base electric rates and avoid a planned rate hike in 2025. Public hearings on this proposed rate freeze will commence on June 26, with a vote scheduled for July 1.

Focusing on specific expenses in metro Atlanta illustrates the region’s economic resilience. Rental costs have only increased by 0.4% from February to April, offering significant stability compared to other metropolitan cities across the country that are experiencing more aggressive inflation growth. Notably, metro Atlanta ranked 20th out of 23 major U.S. metropolitan areas in terms of inflation growth, trailing behind high-cost cities such as New York (3.9%), San Diego (3.8%), and Los Angeles (3.0%).

The inflation situation in metro Atlanta puts the region in a favorable position, particularly when contrasted against the national average CPI increase of 2.3%. This comparatively restrained inflation environment is beneficial for local consumers navigating the current economic landscape.

As consumers and regulators alike continue to monitor inflation trends, the focus remains on sustaining this relatively low inflationary pressure in metro Atlanta, especially in light of imminent public discussions regarding energy costs and essential expenditures as summer approaches.

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Additional Resources

• Patch: GA Metro Sees Smallest Cooling Inflation in 4 Years
• Google Search: Inflation in Atlanta
• Fox 5 Atlanta: Kemp’s Public Service Commission Announcement
• Wikipedia: Inflation
• Bloomberg: Fed’s Bostic Flags Inflation Concerns
• Encyclopedia Britannica: Economics
• Investing.com: Atlanta Fed President Voices Concern Over Inflation
• WSB TV: Atlanta Area Ranked 20th in Inflation Impact

Author: STAFF HERE ATLANTA WRITER

ATLANTA STAFF WRITER The ATLANTA STAFF WRITER represents the experienced team at HEREAtlanta.com, your go-to source for actionable local news and information in Atlanta, Fulton County, and beyond. Specializing in "news you can use," we cover essential topics like product reviews for personal and business needs, local business directories, politics, real estate trends, neighborhood insights, and state news affecting the area—with deep expertise drawn from years of dedicated reporting and strong community input, including local press releases and business updates. We deliver top reporting on high-value events such as vibrant music festivals like Shaky Knees and Music Midtown, major cultural celebrations including Dragon Con and the Atlanta Film Festival, and iconic sporting events like the Peachtree Road Race. Our coverage extends to key organizations like the Metro Atlanta Chamber of Commerce and the Atlanta Convention & Visitors Bureau, plus leading businesses in logistics, beverages, and retail that power the local economy such as Delta Air Lines, The Coca-Cola Company, and The Home Depot. As part of the broader HERE network, including HEREAugusta.com and HERESavannah.com, we provide comprehensive, credible insights into Georgia's dynamic landscape.