From the grocery store to the gas pump, inflation is nearly impossible to escape. Yet, as it continues to climb, some states are faring a little bit better than others.
The states that are managing inflation the best are the states where it is least expensive to live because historically, inflation has been the cheapest in those states. That’s due to a combination of factors, including regional inflation rates from the federal government to the cost of living index.
Here are the top 10 cheapest states to live in as inflation surges, according to CNBC’s exclusive America’s Top States for Business study, which ranks the states based on an index price for a broad range of goods and services.
- West Virginia
NewsNation compared the cost of living in two cities that have the same name but little else in common — Manhattan, Kansas, and Manhattan, New York.
The cost of an average home in Manhattan, Kansas, is $176,000, while the average rent is $860. Compare that to Manhattan, New York, where the average home price is $1.4 million, and if you’re lucky, you can find an apartment for $4,200.
Meanwhile, inflation is hitting these 10 states the hardest:
- New York
- Rhode Island