Minneapolis/St. Paul, Minnesota prices: $1 in 2016 $1.13 in 2021

Inflation in Minnesota


Prices in Minneapolis/st. Paul, 2016-2021 ($1)

According to the U.S. Bureau of Labor Statistics, prices in Minneapolis-St Paul, Minnesota are 13.28% higher in 2021 versus 2016 (a $0.13 difference in value).

Between 2016 and 2021: Minneapolis/St. Paul experienced an average inflation rate of 2.53% per year. This rate of change indicates significant inflation. In other words, $1 in Minneapolis/St. Paul in the year 2016 would cost $1.13 in 2021 for an equivalent purchase. Compared to the overall inflation rate of 2.46% during this same period, inflation in Minneapolis/St. Paul was higher.

In the year 2016: Pricing changed by 1.55%, which is below the average yearly change in Minneapolis/St. Paul during the 2016-2021 time period. Compared to inflation for all items in 2016 (1.26%), 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
Years with the largest changes in pricing: 1988 (5.02%), 2021 (4.84%), and 2000 (4.16%).

View price changes for other categories
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Buying power of $1.00 since 2016

Below are calculations of equivalent buying power in Minneapolis/St. Paul, over time, for $1 beginning in 2016. Each of the amounts below is equivalent in terms of what it could buy at the time:

YearUSD ValueInflation Rate

* 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:


Adjust Minneapolis/St. Paul prices for inflation

Start with the inflation rate formula:

CPI in 2021 / CPI in 2016 * 2016 USD value = 2021 USD value

Then plug in historical CPI values from above. The CPI for Minneapolis-St Paul, Minnesota was 234.145 in the year 2016 and 265.244 in 2021:

265.244 / 234.145 * $1 = $1.13

Therefore, according to U.S. Bureau of Labor Statistics, $1 in 2016 has the same "purchasing power" as $1.13 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.