Faribault, MN's Data
About Faribault, MN's
Faribault, a city in Rice County, Minnesota, is enriched with a vibrant history and a strategic location at the confluence of the Cannon and Straight Rivers. Founded in 1852, it is named after Alexander Faribault, a fur trader who helped establish the settlement. The city's development was significantly boosted by its inclusion on the rail lines, which facilitated trade and migration. Faribault is known for its historical architecture, including a variety of buildings listed on the National Register of Historic Places.
Things To Do in Faribault, MN
Hike: Here are a couple of local trails to check out!
Local Attractions in Faribault, MN
Faribault Woolen Mill - Visitors can tour this historic mill, which has been producing woolen goods since 1865.
River Bend Nature Center - A 750-acre nature preserve offering trails, wildlife viewing, and educational programs.
Paradise Center for the Arts - A cultural hub featuring galleries, theater productions, and art classes.
Shattuck-Saint Mary's - A historic boarding school known for its elite athletic programs, particularly in hockey.
Sakatah Singing Hills State Trail - A scenic trail ideal for biking and hiking, stretching from Faribault to Mankato.
The Economy of Faribault, MN
Faribault's economy historically revolved around agriculture, milling, and manufacturing. Today, it maintains a diverse economic base, with significant contributions from manufacturing, retail, and education sectors. Major employers include a mix of local businesses and national firms, with the Faribault Woolen Mill being one of the most iconic, known for producing high-quality woolen products since the 19th century. The city's economic landscape is also supported by its proximity to major markets like Minneapolis-Saint Paul.
Faribault, MN Inflation
Understanding the BLS and Inflation in Faribault, MN
The Bureau of Labor Statistics (BLS) is a government agency that collects and analyzes economic data across the U.S., including cities like Faribault, MN. 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 Faribault, MN understand how their purchasing power is affected and provides insights for businesses and policymakers.
What This Graph Represents
This graph shows inflation trends in Faribault, MN 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 Faribault, MN 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 Faribault, MN
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