Twin Cities Prices Rise While Incomes Don’t

The Star Tribune reports that cost of living in the Twin Cities has been rising this year, while Minnesota remains about 100,000 jobs short of where it was before the recession.

Inflation in the Twin Cities has been climbing this year at the fastest pace since 2008, according to a report by the Star Tribune.

Local prices on all goods were 3 percent higher in the first half of the year than a year earlier. Food and energy accounted for much of the increase, with gasoline prices shooting up 30 percent and food prices rising 4.6 percent. Prices of alcoholic beverages jumped nearly 12 percent.

Wages on the other hand have not kept pace, and Minnesota remains about 100,000 jobs short of where it was before the recession.

To learn more about prices, inflation, what effect they might have on decisions made by The Federal Reserve, and the Minnesota state economist's take on the data, read the full Star Tribune story here.