Minneapolis/St. Paul, Minnesota prices: $680,000,000 in 2003 → $1,116,033,716.48 in 2024

Inflation in Minnesota

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Prices in Minneapolis/st. Paul, 2003-2024 ($680,000,000)

According to the U.S. Bureau of Labor Statistics, prices in Minneapolis-St Paul, Minnesota are 64.12% higher in 2024 versus 2003 (a $436,033,716.48 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, $680,000,000 in Minneapolis/St. Paul in the year 2003 would cost $1,116,033,716.48 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
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Buying power of $680,000,000.00 since 2003

Below are calculations of equivalent buying power in Minneapolis/St. Paul, over time, for $680,000,000 beginning in 2003. Each of the amounts below is equivalent in terms of what it could buy at the time:

YearUSD ValueInflation Rate
2003$680,000,000.001.73%
2004$699,354,132.462.85%
2005$718,708,264.922.77%
2006$730,246,305.421.61%
2007$749,030,979.752.57%
2008$777,730,925.013.83%
2009$773,752,162.01-0.51%
2010$788,040,722.501.85%
2011$816,368,472.913.59%
2012$835,424,849.482.33%
2013$851,622,769.571.94%
2014$863,540,448.821.40%
2015$858,158,511.22-0.62%
2016$871,475,643.131.55%
2017$890,435,249.042.18%
2018$911,762,014.232.40%
2019$930,881,663.932.10%
2020$941,641,817.191.16%
2021$987,224,521.074.84%
2022$1,060,785,112.217.45%
2023$1,089,488,779.422.71%
2024$1,116,033,716.482.44%*

* 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 * $680,000,000 = $1,116,033,716.48

Therefore, according to U.S. Bureau of Labor Statistics, $680,000,000 in 2003 has the same "purchasing power" as $1,116,033,716.48 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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