The government's latest inflation report didn't include a breakout for the Twin Cities. The Bureau of Labor Statistics issues local reports on inflation on a bimonthly basis and July will be the next period it covers the Minneapolis-St. Paul region.
But new data from a real estate market watcher showed that the Twin Cities continues to lag behind the country in one major inflation component — housing costs.
In June, the average rent in the Twin Cities increased 5% compared with last year, the lowest annual increase in the nation, according to a monthly report from Yardi Matrix National Multifamily Report.
Yardi said June rent nationally was up 13.7%, noting double-digit increases in 25 of the top 30 markets, the firm said. The Bureau of Labor Statistics reported a smaller national increase — at 5.8% — for rent in the June consumer price index.
