Inflation rates are high nationwide. But the country’s worst inflation can be found in West Texas. Midland’s economy is currently experiencing the worst inflation rate in the United States, hovering around 10% for the past six months. | via TexasStandard
, who covers the U.S. economy for Bloomberg, said a perfect storm of high gas prices and supply chain issues are felt more acutely in Midland, which is about a four-hour drive from any major city.
“Businesses are struggling. They can’t find people because during the pandemic, gas prices tanked; a lot of people moved out from Midland. So they’re struggling to find workers. They’ve had to raise the price of their own services. If they raise prices for wages, their margins go down. It’s a vicious cycle. If you live in Midland, you’re feeling it.”
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