Tyler Schipper, economics professor at the University of St. Thomas College of Arts and Sciences, recently spoke with Marketplace about the Minneapolis-St. Paul region's year-over-year inflation rate, which is currently much lower the majority of the country.
From the story:
While we often talk about inflation from a national standpoint, in a country of more than 300 million people with a lot of economic diversity, there’s a big difference in what happens in one U.S. city versus another.
For example, prices over the last year rose just 1.8% in Minneapolis. Compare that to Miami, where inflation is at a whopping 9%. In this case, it really is a tale of two cities.
Despite inflation clocking in under the Federal Reserve’s 2% target rate, “I wouldn’t say [it’s] necessarily the best of times” in Minneapolis, said the University of St. Thomas’ Tyler Schipper. “We still need especially those food prices to come down.”
