High inflation in DeSantis’s Florida

Man viewing receipts in supermarket and tracking prices during inflation – Courtesy: Shutterstock – Image by Denys Kurbatov

Ron DeSantis, governor of Florida and candidate for the Republican presidential nomination, believes that his state ought to serve as an example for the rest of the country. Add an asterisk for inflation.

According to the most recent inflation figures from the Labor Department, living expenses are now rising in Florida at a rate that is more than twice as fast as the national average. Republicans like DeSantis and others have criticized President Biden for having high inflation, but the narrative is suddenly changing. Inflation across the country has significantly decreased over the past year. Floridaflation is worse, however.

In Tampa, the annual inflation rate is 7.3 percent. It is 6.9 percent in Miami. These two Florida cities currently hold the top spots among the 21 metro regions that the Labor Department analyzes each month. Three percent is the national inflation rate.

DeSantis uses the thriving economy of his state as justification to “Make America Florida.” The Sunshine State has seen a surge in business and labor due to its semitropical climate and lack of state income tax. Under DeSantis’ leadership, Florida has surpassed the rest of the nation in terms of job and income growth.

Housing costs, the main cause of inflation in Florida, are rising as a result of strong expansion, though. For instance, housing expenses in Miami have increased by 17 percent since last year. Given that Florida is the state with the fastest rate of population growth in the nation, rising interest rates and high demand are both contributing factors.

Florida also has a special issue with homeowner’s insurance, which costs, on average, $6,000 a year. The $1,700 national average is rather low. Extreme weather is a part of the issue, but extensive fraud and costly litigation are also to blame for many insurers leaving the state. In 2020, DeSantis’ second year in office as governor, premiums started to rise and are currently the highest in the country.

The Florida legislature made a number of improvements last year, but DeSantis and others claim it would be at least a few years before premiums are reduced as a result of the new rules. DeSantis enacted a measure in May to crack down on state-wide undocumented immigration. Workers have left as a result, creating labor shortages at farms, construction companies, and other enterprises that could drive up labor expenses in Florida. DeSantis’ detractors contend that rather than running for president in Texas and Iowa, he ought to be doing more to assist Floridians.

DeSantis is viewed by some Republicans as their best chance of unseating former President Donald Trump as the party’s front-runner. However, his campaign has had trouble gaining traction. DeSantis’ anti-woke campaign hasn’t gained any traction. He is embroiled in a legal conflict with the Disney Corporation that started as a disagreement over sex and gender education in the classroom. Bob Iger, CEO of Disney, claims that DeSantis is “anti-business,” which is a difficult accusation for a Republican governor who is running on his management of the economy to disprove.

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