How relocating Americans created new inflation hot spots

Over the past two years, Americans moved a lot, and now those destinations have the highest inflation rates in the U.S.

Taylor Marr, deputy chief economist for Redfin, told CNBC that inflation was highest in Phoenix and lowest in San Francisco.

The relationship between migration and inflation has strengthened as more people relocate from expensive coastal cities to more affordable metro areas according to an analysis released by Redfin.

Phoenix has seen an influx of new residents.

Lee McPheters, research professor of economics at Arizona State University, told CNBC that almost every component of the PhoenixCPI is up about 10%.

Both hot inflation and the surge in homebuying can be found in Atlanta and Tampa.

People move to Atlanta because it is more affordable, according to an economics professor.

Prices are going up. The consumer price index increased by 8.3% from a year ago.

For years and years, it has always been a mixed bag of things going up and down. Steve Reed, an economist with the U.S. Bureau of Labor Statistics, told CNBC that everything is rising.

The Bureau of Labor Statistics measures rising costs, the role of wages and what may be next for these hot spots in the video above.