Detroit, MI's Data
About Detroit, MI's
Detroit, the largest city in the state of Michigan, is located along the Detroit River, serving as a major port on the United States-Canada border. Founded in 1701 by French explorer Antoine de la Mothe Cadillac, Detroit quickly became a significant industrial hub, particularly known for its automotive industry. The city's rich musical heritage, particularly its pivotal role in the development of Motown and techno music, also contributes to its cultural identity.
Things To Do in Detroit, MI
Hike: Here are a couple of local trails to check out!
Local Attractions in Detroit, MI
The Detroit Institute of Arts - Known for one of the largest and most significant art collections in the United States.
Motown Museum - Offers a glimpse into the history of the music that shaped the city's cultural landscape.
Belle Isle Park - A 982-acre island park offering a zoo, aquarium, conservatory, and beautiful views of the surrounding river and cityscape.
The Henry Ford Museum - A large indoor and outdoor history museum complex that explores the American experience and innovation.
Eastern Market - A historic commercial district offering food, street art, and a vibrant farmers market.
The Economy of Detroit, MI
Detroit's economy has historically been dominated by automotive manufacturing, with the 'Big Three' auto manufacturers (General Motors, Ford, and Stellantis North America) playing crucial roles in its economic landscape. In recent years, efforts to diversify the economy have included investments in technology, healthcare, and finance. Urban renewal and entrepreneurial initiatives are also revitalizing the city, attracting new businesses and fostering economic growth.
Detroit, MI Inflation
Understanding the BLS and Inflation in Detroit, MI
The Bureau of Labor Statistics (BLS) is a government agency that collects and analyzes economic data across the U.S., including cities like Detroit, MI. One of its key responsibilities is tracking inflation through the Consumer Price Index (CPI), which measures how the cost of everyday goods and services changes over time. Inflation can impact everything from housing prices to the cost of groceries, gas, and utilities across the area. By tracking inflation, the BLS helps people from Detroit, MI understand how their purchasing power is affected and provides insights for businesses and policymakers.
What This Graph Represents
This graph shows inflation trends in Detroit, MI using the CPI, highlighting how prices have changed over time. The x-axis represents time (months and years), while the y-axis represents price levels. If the graph moves upward, it means the cost of living is rising, which can affect everything from rent to gas prices. A flatter or downward trend suggests that inflation is stabilizing or decreasing. Keeping an eye on inflation is important for people from Detroit, MI when budgeting for housing, wages, and daily expenses. You can hover over the graph to see exact values for each month and check the "Most Recently Updated" label to ensure you’re viewing the latest available data.
Company Recall Data in Detroit, MI
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