High inflation in parts of the US won't come down until house-price growth does too. An economist says that could take some time.

In parts of the US, inflation can be linked to the housing bubble and poor transport connections, according to an economist in Florida.

The director of the Institute for Economic Forecasting at the University of Central Florida told Insider that fast house prices and a lack of viable transport options put pressure on gas prices.

In the New York metro area of New York State, the consumer price inflation for March was 6.1%, while in the Tampa Bay metro area of Florida, it was 10.2%. The national rate of inflation last month was 8.5%.

It's important to distinguish between inflation and the cost of living, since prices in areas of Florida are still lower than in New York.

Florida's economic growth grew faster than New York and the US last year. The growth has mainly been driven by migration from other states, which is the highest in the US

'A single-family home is not bitcoin — it shouldn't be going up by 20% a year'

Huge growth in housing costs, which make up more than 40% of the weightedCPI average, was driving disproportionate overall price increases in cities.

In the final quarter of the year, median house prices in the US grew by more than 26%, while in the city of Tampa they grew by more than 26%. Growth in the former area was not sustainable.

A single- family home is not a virtual currency. It should not be going up by 20% a year. I think that is very unusual. The rate of growth should slow as mortgage rates rise.

Transport is an issue in Florida and other states. New York's subway network kept transportation costs from rising as oil and gas prices spiked.

If you have to get your kids to school, then you are hopping in a car and driving.

This put further pressure on house prices, as limited commute options clustered workers in a smaller area, exacerbated by investor purchases. The migration that helped Florida's GDP grow faster than the US changed buyer behavior from the usual market.

He said that they get significant migration from California, New York, New Jersey and Illinois. These are expensive places to live. If someone comes from California to Florida and sees a house that costs $400,000, that looks like a bargain to them.

The Federal Reserve needs to speed up its plan for interest rate rises, as it has contributed to a huge supply chain crunch. The Federal Funds Rate was increased by the Fed at its last meeting.