Silver Bay, MN's Data
About Silver Bay, MN's
Silver Bay is a small city located in Lake County, Minnesota, along the scenic North Shore of Lake Superior. Established in 1954, the city was originally developed to support the taconite processing plant for the Reserve Mining Company. Nestled among forests and waterways, Silver Bay is characterized by its rugged natural beauty and its proximity to the Boundary Waters Canoe Area Wilderness and the Superior National Forest.
City: Silver Bay
State: Minnesota
Country: United States
Population: 2,628
Number of Ongoing Class I Recalls: 0
Number of Ongoing Class II Recalls: 0
Number of Ongoing Class III Recalls: 0
Company With Most Recalls: No Recalls
Things To Do in Silver Bay, MN
Hike: Here are a couple of local trails to check out!
Local Attractions in Silver Bay, MN
Split Rock Lighthouse - Historic lighthouse offering picturesque views and a glimpse into maritime history.
Tettegouche State Park - Known for its steep cliffs, hiking trails, and the High Falls of the Baptism River.
Black Beach - Unique beach with black sand, popular for picnics and scenic photos.
Palisade Head - Dramatic rock formation offering climbing opportunities and expansive views of Lake Superior.
Silver Bay Marina - Gateway for boating activities and a starting point for fishing expeditions on Lake Superior.
The Economy of Silver Bay, MN
The economy of Silver Bay has historically been anchored by the mining industry, particularly with the taconite processing plant which played a pivotal role in the city's development. In recent years, tourism has grown in importance, supported by the city's access to outdoor recreational activities and its location near Lake Superior. This shift reflects a broader trend in the region towards service-oriented industries, including retail and hospitality.
Silver Bay, MN Inflation
Understanding the BLS and Inflation in Silver Bay, MN
The Bureau of Labor Statistics (BLS) is a government agency that collects and analyzes economic data across the U.S., including cities like Silver Bay, 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 Silver Bay, 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 Silver Bay, 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 Silver Bay, 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 Silver bay, MN
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