Throughout 2022, U.S. cities were hit with the worst inflation rate in over 40 years. While recovering from the pandemic, inflation skyrocketed due to multiple factors, including labor and staffing shortages, supply restrictions, growing demand, and the war in Ukraine. After hitting an all-time high of 9.1% in June, the inflation rate slowly declined to a stiff 7.7% in October.
After ranking eleventh in the highest city inflation growth according to a WalletHub report in June, St. Louis drops to the fourth lowest inflation rate, ranking in with a total score of 46.43. To determine the inflation growth in cities, WalletHub compared 22 major MSAs (Metropolitan Statistical Areas) across two key metrics involving the Consumer Price Index, which measures inflation. Comparing the latest month’s data to two months prior and one year, WalletHub found the result of how inflation has changed in the long term and short term.
In light of the inflation decline, the growth of meetings and events has begun to return to St. Louis, with multiple conventions, conferences, and meeting events taking place recently, like the Joyce Meyers Love Life Women’s Conference, the Mid-Continental Dental Congress, and the St. Louis Area Hotel Association Annual Golf Tournament and board meetings.
Hotels like Moonrise Hotel, Live! by Loews, Angad Arts Hotel, and The Ritz-Carlton St. Louis have multiple meeting rooms and event spaces with picturesque backdrops. Or book your event at St. Louis Union Station, The Fabulous Fox Theatre, or the St. Louis Zoo for a unique, unforgettable venue.
To view WalletHub’s recent inflation report, click here.