WASHINGTON – A new study by WalletHub says the D.C. and Baltimore regions are seeing some of the highest levels of inflation.
The D.C./Arlington/Alexandria region is ranked 21 nationwide while the Baltimore/Columbia/Towson region is fifth.
FOX 5 spoke to financial expert Dan Varroney, President & CEO of Potomac Core Consulting, who said he doesn’t expect inflation to ease any time this year. He said he also anticipates the Federal Reserve will again raise interest rates in November or December.
“I’m going to tell you that has implications for all of your viewers in terms of what they’re going to pay on their credit card interest fees, what people will pay for home loans and what people will pay for automobile loans,” Varroney said. “So right now we’re looking at high costs through the end of the year and this would get into next year. I don’t think that inflation is going to get under control anytime soon.”