Novi, MI's Data
About Novi, MI's
Novi, Michigan, is a dynamic city located in Oakland County, characterized by its rapid growth and strategic position approximately 25 miles northwest of Detroit. The city's name, often mistakenly linked to a numerical origin, is actually derived from the designation 'No. VI,' a stagecoach stop from the 19th century. Since its establishment, Novi has evolved from a quaint agricultural town into a thriving suburban center, known for its excellent schools, diverse population, and robust local economy.
Things To Do in Novi, MI
Hike: Here are a couple of local trails to check out!
Local Attractions in Novi, MI
Twelve Oaks Mall - A major regional shopping center featuring over 180 stores.
Suburban Collection Showplace - A large convention center hosting expos, conventions, and festivals.
Lakeshore Park - Offers hiking trails, a swimming beach, and picnic areas on the shores of Walled Lake.
Novi Ice Arena - Provides facilities for ice hockey and skating, including open skate sessions.
Paradise Park - A family entertainment complex with mini-golf, go-karts, and arcade games.
The Economy of Novi, MI
The economy of Novi is diverse, with a strong presence of automotive companies, technology firms, and retail giants. It is home to the headquarters of several major corporations, including BrassCraft and ITC Transmission. The Twelve Oaks Mall, one of the largest shopping malls in Michigan, serves as a major economic driver, attracting consumers from across the region. Novi also hosts numerous conventions and business meetings at the Suburban Collection Showplace, contributing significantly to its economic vitality.
Novi, MI Inflation
Understanding the BLS and Inflation in Novi, MI
The Bureau of Labor Statistics (BLS) is a government agency that collects and analyzes economic data across the U.S., including cities like Novi, 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 Novi, 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 Novi, 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 Novi, 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 Novi, MI
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