ATLANTA, GA — Atlanta, once an inflation hotspot, is now seeing prices rise at the slowest rates among all large US cities.

Prices in the Atlanta metro area, which shot up by as much as 11.7% just two years ago, rose only 1.9% in October year over year.

That is below the Federal Reserve’s long-held target of 2%.

Most of that was due to rents and home prices which skyrocketed during the pandemic and its aftermath, but have moderated greatly.

This resulted in prices rising just 3.4% year over year in October.

Shelter costs are still far higher than before the pandemic.