# Financial crisis
Governor DeSantis Blames Biden Administration for “Devastating Increase” As Inflation Soars to Four-Decade High of 9.1%
At what point does life become truly unaffordable?. Gov. Ron DeSantisMatt Johnson, United States, CC BY 2.0 via Wikimedia Commons. On July 13, the U.S. Fed announced the latest consumer price index (or inflation rate) and it's topped another high of 9.1%. This is the highest inflation has risen year on year since over 40 years - it was as far as 1981 that the United States witnessed similar increases.
Will the US face a Recession?
The United States' inflation rate has reached an all-time high. The US stock market has begun to show signs of slowing, potentially driving the economy into recession and even stagflation. Since the 1970s, the United States has never experienced stagflation. A sluggish economy with rising prices and few or no job opportunities is referred to as stagflation.
How Migration Affects Inflation In America
Inflation in America is at an all-time high affecting millions of Americans, but these places are worse off than others due to the hordes of people migrating to these cities. According to a Redfin analysis report, these American cities are most affected by inflation. The sunbelt used to be a place where people would move to get cheap housing, cost of living, and warm weather, but this is changing as what was once affordable is quickly rising into an unaffordable nightmare. Common migration destinations for homebuyers are Phoenix, Tampa, and Atlanta. These American cities have the highest inflation rates in the U.S. According to the Bureau of Labor Statistics (BLS), prices were up 8.5% year over year in March throughout America, the highest rate in 40 years. 2% is what is an acceptable rate according to economic analysts and policymakers.