The Consumer Price Index, or CPI, for the Twin Cities rose 3.4% year over year in March, according to the latest bi-monthly release from the Bureau of Labor Statistics. That was markedly lower than the national average of 5% and the second-lowest among all regions tracked, trailing only urban Hawaii. Minneapolis-St. Paul’s headline inflation rate has cooled a staggering 530 basis points from its peak of 8.7% in May 2022, while the U.S. witnessed a 410 basis point moderation from the apex of 9.1% in June 2022.
