Minneapolis/St. Paul, Minnesota prices: $20,000 in 2005 $27,472.19 in 2021

Inflation in Minnesota

$

Prices in Minneapolis/st. Paul, 2005-2021 ($20,000)

According to the U.S. Bureau of Labor Statistics, prices in Minneapolis-St Paul, Minnesota are 37.36% higher in 2021 versus 2005 (a $7,472.19 difference in value).

Between 2005 and 2021: Minneapolis/St. Paul experienced an average inflation rate of 2% per year. This rate of change indicates significant inflation. In other words, $20,000 in Minneapolis/St. Paul in the year 2005 would cost $27,472.19 in 2021 for an equivalent purchase. Compared to the overall inflation rate of 2.07% during this same period, inflation in Minneapolis/St. Paul was lower.

In the year 2005: Pricing changed by 2.77%, which is above the average yearly change in Minneapolis/St. Paul during the 2005-2021 time period. Compared to inflation for all items in 2005 (3.39%), 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
Years with the largest changes in pricing: 1988 (5.02%), 2021 (4.84%), and 2000 (4.16%).

View price changes for other categories
Financial services · Baby food · Dental services · College tuition and fees · More

Buying power of $20,000.00 since 2005

Below are calculations of equivalent buying power in Minneapolis/St. Paul, over time, for $20,000 beginning in 2005. Each of the amounts below is equivalent in terms of what it could buy at the time:

YearUSD ValueInflation Rate
2005$20,000.002.77%
2006$20,321.081.61%
2007$20,843.812.57%
2008$21,642.473.83%
2009$21,531.75-0.51%
2010$21,929.361.85%
2011$22,717.663.59%
2012$23,247.952.33%
2013$23,698.711.94%
2014$24,030.351.40%
2015$23,880.58-0.62%
2016$24,251.171.55%
2017$24,778.772.18%
2018$25,372.242.40%
2019$25,904.302.10%
2020$26,203.731.16%
2021$27,472.194.84%*

* 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:

Year19841985198619871988198919901991199219931994199519961997199819992000200120022003200420052006200720082009201020112012201320142015201620172018201920202021
CPI103.100107.000108.400111.600117.200122.000127.000130.400135.000139.200143.600147.000151.900155.400158.300163.300170.100176.500179.600182.700187.900193.100196.200201.247208.958207.889211.728219.339224.459228.811232.013230.567234.145239.239244.969250.106252.997265.244

Adjust Minneapolis/St. Paul prices for inflation

Start with the inflation rate formula:

CPI in 2021 / CPI in 2005 * 2005 USD value = 2021 USD value

Then plug in historical CPI values from above. The CPI for Minneapolis-St Paul, Minnesota was 193.100 in the year 2005 and 265.244 in 2021:

265.244 / 193.100 * $20,000 = $27,472.19

Therefore, according to U.S. Bureau of Labor Statistics, $20,000 in 2005 has the same "purchasing power" as $27,472.19 in 2021 (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.