Inflation Hit Some States Harder

Inflation wiped out economic growth in most states last year. Adjusting for inflation, only five states had positive personal income growth last year: North Dakota, Delaware, South Dakota, Montana, and Alaska. Rhode Island, Oregon, DC, Mississippi, and New Hampshire all saw real personal incomes drop by more than eight percent.

State policy has a lot to do with why some states saw more inflation than others. Local land-use regulations that restrict home-building drive up the cost of housing, the largest part of the consumer price index. New Hampshire’s eye-popping inflation rate was driven by housing costs, which also rose at the nation’s fastest pace.

https://www.aier.org/article/inflation-hit-some-states-harder/

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