Get ready for those raise requests!

South Florida's No.1 -- in cost-of-living increase

The cost of living in South Florida is rising faster than in any other major metropolitan area in the country.

The Consumer Price Index for the Miami-Fort Lauderdale area increased by a hefty 4.4 percent annual rate in May and June over the same two-month period last year. That's a much sharper boost in consumer prices than the national rate, according to the U.S. Bureau of Labor Statistics.

While the rest of the nation recorded a subdued 2.7 percent annual increase in prices in June — the smallest monthly gain in inflation in five months — South Floridians were enduring eye-popping increases for staples such as food, rent, gasoline and even school supplies. The high rental and transportation costs are the biggest reasons prices are rising at a faster clip here than in other regions of the nation.

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