Minneapolis/St. Paul, Minnesota prices: $60,000,000 in 1985 $164,142,056.07 in 2023

Inflation in Minnesota

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Prices in Minneapolis/st. Paul, 1985-2023 ($60,000,000)

According to the U.S. Bureau of Labor Statistics, prices in Minneapolis-St Paul, Minnesota are 173.57% higher in 2023 versus 1985 (a $104,142,056.07 difference in value).

Between 1985 and 2023: Minneapolis/St. Paul experienced an average inflation rate of 2.68% per year. This rate of change indicates significant inflation. In other words, $60,000,000 in Minneapolis/St. Paul in the year 1985 would cost $164,142,056.07 in 2023 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 1985-2023 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
Years with the largest changes in pricing: 2022 (7.45%), 1988 (5.02%), and 2021 (4.84%).

View price changes for other categories
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Buying power of $60,000,000.00 since 1985

Below are calculations of equivalent buying power in Minneapolis/St. Paul, over time, for $60,000,000 beginning in 1985. Each of the amounts below is equivalent in terms of what it could buy at the time:

YearUSD ValueInflation Rate
1985$60,000,000.003.78%
1986$60,785,046.731.31%
1987$62,579,439.252.95%
1988$65,719,626.175.02%
1989$68,411,214.954.10%
1990$71,214,953.274.10%
1991$73,121,495.332.68%
1992$75,700,934.583.53%
1993$78,056,074.773.11%
1994$80,523,364.493.16%
1995$82,429,906.542.37%
1996$85,177,570.093.33%
1997$87,140,186.922.30%
1998$88,766,355.141.87%
1999$91,570,093.463.16%
2000$95,383,177.574.16%
2001$98,971,962.623.76%
2002$100,710,280.371.76%
2003$102,448,598.131.73%
2004$105,364,485.982.85%
2005$108,280,373.832.77%
2006$110,018,691.591.61%
2007$112,848,785.052.57%
2008$117,172,710.283.83%
2009$116,573,271.03-0.51%
2010$118,725,981.311.85%
2011$122,993,831.783.59%
2012$125,864,859.812.33%
2013$128,305,233.641.94%
2014$130,100,747.661.40%
2015$129,289,906.54-0.62%
2016$131,296,261.681.55%
2017$134,152,710.282.18%
2018$137,365,794.392.40%
2019$140,246,355.142.10%
2020$141,867,476.641.16%
2021$148,734,953.274.84%
2022$159,817,570.097.45%
2023$164,142,056.072.71%*

* 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:

Year1984198519861987198819891990199119921993199419951996199719981999200020012002200320042005200620072008200920102011201220132014201520162017201820192020202120222023
CPI103.100107.000108.400111.600117.200122.000127.000130.400135.000139.200143.600147.000151.900155.400158.300163.300170.100176.500179.600182.700187.900193.100196.200201.247208.958207.889211.728219.339224.459228.811232.013230.567234.145239.239244.969250.106252.997265.244285.008292.720

Adjust Minneapolis/St. Paul prices for inflation

Start with the inflation rate formula:

CPI in 2023 / CPI in 1985 * 1985 USD value = 2023 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 292.720 in 2023:

292.720 / 107.000 * $60,000,000 = $164,142,056.07

Therefore, according to U.S. Bureau of Labor Statistics, $60,000,000 in 1985 has the same "purchasing power" as $164,142,056.07 in 2023 (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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