View of the Mississippi River and Stone Arch Bridge from balcony of the Guthrie Theater in Minneapolis, MN.
View of the Mississippi River and Stone Arch Bridge from balcony of the Guthrie Theater in Minneapolis, MN.
  • Minneapolis is the first major metropolitan area to have inflation rates below the Fed's 2% target.
  • According to Bloomberg, Minneapolis hit the goal in May with an inflation rate of 1.8%. 
  • The rate is likely due to aggressive legislating to address soaring housing costs in the city. 

Minneapolis is the first major metropolitan area to reach an inflation rate below the Federal Reserve's target of 2%, likely due to its work to lower soaring housing costs across the city, according to reporting from Bloomberg.