Minneapolis/St. Paul, Minnesota prices: $3.23 in 1985 → $9.05 in 2024

Inflation in Minnesota

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Prices in Minneapolis/st. Paul, 1985-2024 ($3.23)

According to the U.S. Bureau of Labor Statistics, prices in Minneapolis-St Paul, Minnesota are 180.24% higher in 2024 versus 1985 (a $5.82 difference in value).

Between 1985 and 2024: Minneapolis/St. Paul experienced an average inflation rate of 2.68% per year. This rate of change indicates significant inflation. In other words, $3.23 in Minneapolis/St. Paul in the year 1985 would cost $9.05 in 2024 for an equivalent purchase. Compared to the overall inflation rate of 2.78% during this same period, inflation in Minneapolis/St. Paul was lower.

In the year 1985: Pricing changed by 3.78%, which is above the average yearly change in Minneapolis/St. Paul during the 1985-2024 time period. Compared to inflation for all items in 1985 (3.55%), inflation in Minneapolis/St. Paul was higher.

Price Inflation in Minneapolis-St Paul, Minnesota since 1984

Consumer Price Index, U.S. Bureau of Labor Statistics
19851990199520002005201020152020-11357
Years with the largest changes in pricing: 2022 (7.45%), 1988 (5.02%), and 2021 (4.84%).
View price changes for other categories
Medical care · Detroit, Michigan · Minneapolis-St Paul, Minnesota · Admission to sporting events · More

Buying power of $3.23 since 1985

Below are calculations of equivalent buying power in Minneapolis/St. Paul, over time, for $3.23 beginning in 1985. Each of the amounts below is equivalent in terms of what it could buy at the time:

YearUSD ValueInflation Rate
1985$3.233.78%
1986$3.271.31%
1987$3.372.95%
1988$3.545.02%
1989$3.684.10%
1990$3.834.10%
1991$3.942.68%
1992$4.083.53%
1993$4.203.11%
1994$4.333.16%
1995$4.442.37%
1996$4.593.33%
1997$4.692.30%
1998$4.781.87%
1999$4.933.16%
2000$5.134.16%
2001$5.333.76%
2002$5.421.76%
2003$5.521.73%
2004$5.672.85%
2005$5.832.77%
2006$5.921.61%
2007$6.082.57%
2008$6.313.83%
2009$6.28-0.51%
2010$6.391.85%
2011$6.623.59%
2012$6.782.33%
2013$6.911.94%
2014$7.001.40%
2015$6.96-0.62%
2016$7.071.55%
2017$7.222.18%
2018$7.392.40%
2019$7.552.10%
2020$7.641.16%
2021$8.014.84%
2022$8.607.45%
2023$8.842.71%
2024$9.052.44%*

* Not final. See inflation summary for latest details.
** Extended periods of 0% inflation usually indicate incomplete underlying data. This can manifest as a sharp increase in inflation later on.

Raw Consumer Price Index data from U.S. Bureau of Labor Statistics for Minneapolis-St Paul, Minnesota:

Year19841985198619871988198919901991199219931994199519961997199819992000200120022003200420052006200720082009201020112012201320142015201620172018201920202021202220232024
CPI103.100107.000108.400111.600117.200122.000127.000130.400135.000139.200143.600147.000151.900155.400158.300163.300170.100176.500179.600182.700187.900193.100196.200201.247208.958207.889211.728219.339224.459228.811232.013230.567234.145239.239244.969250.106252.997265.244285.008292.720299.852

Adjust Minneapolis/St. Paul prices for inflation

Start with the inflation rate formula:

CPI in 2024 / CPI in 1985 * 1985 USD value = 2024 USD value

Then plug in historical CPI values from above. The CPI for Minneapolis-St Paul, Minnesota was 107.000 in the year 1985 and 299.852 in 2024:

299.852 / 107.000 * $3.23 = $9.05

Therefore, according to U.S. Bureau of Labor Statistics, $3.23 in 1985 has the same "purchasing power" as $9.05 in 2024 (in the CPI category of Minneapolis-St Paul, Minnesota).

Source: U.S. Bureau of Labor Statistics began tracking the Consumer Price Index for Minneapolis-St Paul, Minnesota in 1984. In addition to Minneapolis/St. Paul, the index produces monthly data on changes in prices paid by urban consumers for a variety of goods and services.

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