Minneapolis/St. Paul, Minnesota prices: $21,000,000 in 2003 → $34,465,747.13 in 2024

Inflation in Minnesota

$

Prices in Minneapolis/st. Paul, 2003-2024 ($21,000,000)

According to the U.S. Bureau of Labor Statistics, prices in Minneapolis-St Paul, Minnesota are 64.12% higher in 2024 versus 2003 (a $13,465,747.13 difference in value).

Between 2003 and 2024: Minneapolis/St. Paul experienced an average inflation rate of 2.39% per year. This rate of change indicates significant inflation. In other words, $21,000,000 in Minneapolis/St. Paul in the year 2003 would cost $34,465,747.13 in 2024 for an equivalent purchase. Compared to the overall inflation rate of 2.57% during this same period, inflation in Minneapolis/St. Paul was lower.

In the year 2003: Pricing changed by 1.73%, which is below the average yearly change in Minneapolis/St. Paul during the 2003-2024 time period. Compared to inflation for all items in 2003 (2.27%), 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
Legal services · Chicago, Illinois · Wine at home · Admission to sporting events · More

Buying power of $21,000,000.00 since 2003

Below are calculations of equivalent buying power in Minneapolis/St. Paul, over time, for $21,000,000 beginning in 2003. Each of the amounts below is equivalent in terms of what it could buy at the time:

YearUSD ValueInflation Rate
2003$21,000,000.001.73%
2004$21,597,701.152.85%
2005$22,195,402.302.77%
2006$22,551,724.141.61%
2007$23,131,839.082.57%
2008$24,018,160.923.83%
2009$23,895,287.36-0.51%
2010$24,336,551.721.85%
2011$25,211,379.313.59%
2012$25,799,885.062.33%
2013$26,300,114.941.94%
2014$26,668,160.921.40%
2015$26,501,954.02-0.62%
2016$26,913,218.391.55%
2017$27,498,735.632.18%
2018$28,157,356.322.40%
2019$28,747,816.092.10%
2020$29,080,114.941.16%
2021$30,487,816.094.84%
2022$32,759,540.237.45%
2023$33,645,977.012.71%
2024$34,465,747.132.44%*

* 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 2003 * 2003 USD value = 2024 USD value

Then plug in historical CPI values from above. The CPI for Minneapolis-St Paul, Minnesota was 182.700 in the year 2003 and 299.852 in 2024:

299.852 / 182.700 * $21,000,000 = $34,465,747.13

Therefore, according to U.S. Bureau of Labor Statistics, $21,000,000 in 2003 has the same "purchasing power" as $34,465,747.13 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.