How did Minneapolis become the first US city with 2% inflation?


In May, the Twin Cities of Minneapolis and St. Paul became the first metropolitan region in the US to reach the Federal Reserve’s 2% inflation target. It fell to 1% in July, rising to 2.2% year on year in September based on the Consumer Price Index.

Officials in the city and the Federal Reserve Bank of Minneapolis stress increasing the stock of housing is key to preserving affordability, which contributes to reducing overall inflationary pressures.

“A lot of what we see around the country is

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