Minneapolis/St. Paul, Minnesota prices: $1.93 in 1986 → $5.34 in 2024

Inflation in Minnesota

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Prices in Minneapolis/st. Paul, 1986-2024 ($1.93)

According to the U.S. Bureau of Labor Statistics, prices in Minneapolis-St Paul, Minnesota are 176.62% higher in 2024 versus 1986 (a $3.41 difference in value).

Between 1986 and 2024: Minneapolis/St. Paul experienced an average inflation rate of 2.71% per year. This rate of change indicates significant inflation. In other words, $1.93 in Minneapolis/St. Paul in the year 1986 would cost $5.34 in 2024 for an equivalent purchase. Compared to the overall inflation rate of 2.81% during this same period, inflation in Minneapolis/St. Paul was lower.

In the year 1986: Pricing changed by 1.31%, which is below the average yearly change in Minneapolis/St. Paul during the 1986-2024 time period. Compared to inflation for all items in 1986 (1.90%), 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
Frankfurters · Airline fares · Electricity · Fish and seafood · More

Buying power of $1.93 since 1986

Below are calculations of equivalent buying power in Minneapolis/St. Paul, over time, for $1.93 beginning in 1986. Each of the amounts below is equivalent in terms of what it could buy at the time:

YearUSD ValueInflation Rate
1986$1.931.31%
1987$1.992.95%
1988$2.095.02%
1989$2.174.10%
1990$2.264.10%
1991$2.322.68%
1992$2.403.53%
1993$2.483.11%
1994$2.563.16%
1995$2.622.37%
1996$2.703.33%
1997$2.772.30%
1998$2.821.87%
1999$2.913.16%
2000$3.034.16%
2001$3.143.76%
2002$3.201.76%
2003$3.251.73%
2004$3.352.85%
2005$3.442.77%
2006$3.491.61%
2007$3.582.57%
2008$3.723.83%
2009$3.70-0.51%
2010$3.771.85%
2011$3.913.59%
2012$4.002.33%
2013$4.071.94%
2014$4.131.40%
2015$4.11-0.62%
2016$4.171.55%
2017$4.262.18%
2018$4.362.40%
2019$4.452.10%
2020$4.501.16%
2021$4.724.84%
2022$5.077.45%
2023$5.212.71%
2024$5.342.44%*

* 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 1986 * 1986 USD value = 2024 USD value

Then plug in historical CPI values from above. The CPI for Minneapolis-St Paul, Minnesota was 108.400 in the year 1986 and 299.852 in 2024:

299.852 / 108.400 * $1.93 = $5.34

Therefore, according to U.S. Bureau of Labor Statistics, $1.93 in 1986 has the same "purchasing power" as $5.34 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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