20 votes

Minneapolis and Honolulu see local inflation levels fall below national goal

Posted by Joeyfingis
Tags: economics, usa.mn.minneapolis, usa.hi.honolulu, inflation, cities, author.adam uren, short read
https://bringmethenews.com/minnesota-news/twin-cities-one-of-just-two-metros-where-inflation-has-fallen-below-us-target

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Title
Twin Cities one of just two metros where inflation has fallen below US target
Authors
Adam Uren
Published
Jun 14 2023
Word count
330 words

9 comments

  1. [2]
    Tukajo
    Link
    As a resident of the Twin Cities. I've been super pleased with how the state legislature and Governor Waltz. have been really grinding out the bills the last month. I don't say this to imply any...

    As a resident of the Twin Cities.

    I've been super pleased with how the state legislature and Governor Waltz. have been really grinding out the bills the last month.

    I don't say this to imply any direct correlation to the inflation article. But moreso to convey that Minnesota, and the Midwest in particular has been a very enjoyable place to live.

    It feels like a "secret spot" that most of the country presumes (and somewhat rightfully so) is a barren frozen wasteland.

    It's actually, quite nice and quite affordable in a lot of ways.

    5 votes
    1. Joeyfingis
      Link Parent
      I definitly feel a disconnect with all the posts online about how unlivable US cities are. I feel so spoiled being in this little economic oasis in Minneapolis. I can't learn to put up with the...

      I definitly feel a disconnect with all the posts online about how unlivable US cities are. I feel so spoiled being in this little economic oasis in Minneapolis. I can't learn to put up with the snow and wind chill if it means I can afford a home and food with enough money left over for a vacation every once in a while.

      1 vote
  2. [2]
    auraspeed
    Link
    The last paragraph mentions a potential reason for this in Minneapolis, and it is the relatively low Inflation of housing in the Twin Cities compared to the rest of the nation (4% vs. 8% in the...

    The last paragraph mentions a potential reason for this in Minneapolis, and it is the relatively low Inflation of housing in the Twin Cities compared to the rest of the nation (4% vs. 8% in the month of May).

    3 votes
    1. Minori
      Link Parent
      Housing makes up a significant percentage of inflation calculations, and Minneapolis is one of the few big cities that's actually building enough housing!...

      Housing makes up a significant percentage of inflation calculations, and Minneapolis is one of the few big cities that's actually building enough housing!

      https://reason.com/2022/05/11/eliminating-single-family-zoning-isnt-the-reason-minneapolis-is-a-yimby-success-story/

      https://www.pewtrusts.org/en/research-and-analysis/articles/2023/04/17/more-flexible-zoning-helps-contain-rising-rents

      6 votes
  3. [4]
    gowestyoungman
    Link
    Why does the title say Honolulu? I thought the article was about Minneapolis/St.Paul?

    Why does the title say Honolulu? I thought the article was about Minneapolis/St.Paul?

    1 vote
    1. [2]
      mycketforvirrad
      Link Parent

      Minneapolis and St. Paul was one of only two major metro areas in the United States that saw inflation fall below the Federal Reserve's national 2% target in May.

      This is significantly lower than the 4% year-on-year experienced in the rest of the United States, with Honolulu, Hawaii the only other major metro area to also experience inflation of below 2%.

      5 votes
      1. gowestyoungman
        Link Parent
        D'oh. I missed that. Also find that quite surprising. The only thing that makes sense to me is that Honolulu was already so atrociously expensive that it inflation didn't rise very much there. A...

        D'oh. I missed that.
        Also find that quite surprising. The only thing that makes sense to me is that Honolulu was already so atrociously expensive that it inflation didn't rise very much there. A city where everything must be shipped in by boat is not exactly prone to being 'affordable' on any level.

        3 votes
    2. Joeyfingis
      Link Parent
      Honolulu is the only other city where this is currently true

      Honolulu is the only other city where this is currently true

      1 vote
  4. Tukajo
    Link
    Shh don't tell people dude.

    Shh don't tell people dude.

    1 vote