Minneapolis/St. Paul, Minnesota prices: $47,500 in 1995 → $96,890.95 in 2024

Inflation in Minnesota

$

Prices in Minneapolis/st. Paul, 1995-2024 ($47,500)

According to the U.S. Bureau of Labor Statistics, prices in Minneapolis-St Paul, Minnesota are 103.98% higher in 2024 versus 1995 (a $49,390.95 difference in value).

Between 1995 and 2024: Minneapolis/St. Paul experienced an average inflation rate of 2.49% per year. This rate of change indicates significant inflation. In other words, $47,500 in Minneapolis/St. Paul in the year 1995 would cost $96,890.95 in 2024 for an equivalent purchase. Compared to the overall inflation rate of 2.52% during this same period, inflation in Minneapolis/St. Paul was lower.

In the year 1995: Pricing changed by 2.37%, which is below the average yearly change in Minneapolis/St. Paul during the 1995-2024 time period. Compared to inflation for all items in 1995 (2.81%), inflation in Minneapolis/St. Paul was lower.

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
New York · New cars · Admission to sporting events · Financial services · More

Buying power of $47,500.00 since 1995

Below are calculations of equivalent buying power in Minneapolis/St. Paul, over time, for $47,500 beginning in 1995. Each of the amounts below is equivalent in terms of what it could buy at the time:

YearUSD ValueInflation Rate
1995$47,500.002.37%
1996$49,083.333.33%
1997$50,214.292.30%
1998$51,151.361.87%
1999$52,767.013.16%
2000$54,964.294.16%
2001$57,032.313.76%
2002$58,034.011.76%
2003$59,035.711.73%
2004$60,715.992.85%
2005$62,396.262.77%
2006$63,397.961.61%
2007$65,028.792.57%
2008$67,520.443.83%
2009$67,175.02-0.51%
2010$68,415.511.85%
2011$70,874.853.59%
2012$72,529.272.33%
2013$73,935.531.94%
2014$74,970.191.40%
2015$74,502.94-0.62%
2016$75,659.101.55%
2017$77,305.122.18%
2018$79,156.652.40%
2019$80,816.562.10%
2020$81,750.731.16%
2021$85,708.104.84%
2022$92,094.427.45%
2023$94,586.392.71%
2024$96,890.952.44%*

* 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 1995 * 1995 USD value = 2024 USD value

Then plug in historical CPI values from above. The CPI for Minneapolis-St Paul, Minnesota was 147.000 in the year 1995 and 299.852 in 2024:

299.852 / 147.000 * $47,500 = $96,890.95

Therefore, according to U.S. Bureau of Labor Statistics, $47,500 in 1995 has the same "purchasing power" as $96,890.95 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.

» Read more about inflation and investment.