Phoenix #9 in increasingly unaffordable U.S. cities, says Forbes.com

[Forbes.com]Phoenix is #9 on the Forbes.com list of “America’s Increasingly Unaffordable Cities.”  Forbes points out that if you’re a Phoenix resident, it’s almost impossible to save money on energy, especially in the summertime.  The commute to work requires driving, because there’s no viable public transportation, and with the summer heat, it’s unreasonable to expect Phoenix’s citizens to completely shut down their air conditioning.

  • Annual Inflation June 2008: 5.44%
  • Annual Inflation January 2008: 2.25%
  • Annual Inflation June 2007: 3.56%

Methodology: Using an inflation study done for Forbes.com by Moody’s Economy.com, the 40 largest metro areas in the U.S. were examined to see where prices were growing fastest. The numbers reflect those from the Bureau of Labor Statistics (BLS) and Moody’s figures on price change between January 2008 and June 2008. They track everything from the price of food, taxes, transportation and medical care to entertainment, education, and mortgage payments.

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