Minneapolis/St. Paul, Minnesota prices: $7.20 in 1985 → $20.18 in 2024

Inflation in Minnesota

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Prices in Minneapolis/st. Paul, 1985-2024 ($7.20)

According to the U.S. Bureau of Labor Statistics, prices in Minneapolis-St Paul, Minnesota are 180.24% higher in 2024 versus 1985 (a $12.98 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, $7.20 in Minneapolis/St. Paul in the year 1985 would cost $20.18 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
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Buying power of $7.20 since 1985

Below are calculations of equivalent buying power in Minneapolis/St. Paul, over time, for $7.20 beginning in 1985. Each of the amounts below is equivalent in terms of what it could buy at the time:

YearUSD ValueInflation Rate
1985$7.203.78%
1986$7.291.31%
1987$7.512.95%
1988$7.895.02%
1989$8.214.10%
1990$8.554.10%
1991$8.772.68%
1992$9.083.53%
1993$9.373.11%
1994$9.663.16%
1995$9.892.37%
1996$10.223.33%
1997$10.462.30%
1998$10.651.87%
1999$10.993.16%
2000$11.454.16%
2001$11.883.76%
2002$12.091.76%
2003$12.291.73%
2004$12.642.85%
2005$12.992.77%
2006$13.201.61%
2007$13.542.57%
2008$14.063.83%
2009$13.99-0.51%
2010$14.251.85%
2011$14.763.59%
2012$15.102.33%
2013$15.401.94%
2014$15.611.40%
2015$15.51-0.62%
2016$15.761.55%
2017$16.102.18%
2018$16.482.40%
2019$16.832.10%
2020$17.021.16%
2021$17.854.84%
2022$19.187.45%
2023$19.702.71%
2024$20.182.44%*

* 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 * $7.20 = $20.18

Therefore, according to U.S. Bureau of Labor Statistics, $7.20 in 1985 has the same "purchasing power" as $20.18 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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