Minneapolis/St. Paul, Minnesota prices: $50 in 1988 → $127.92 in 2024

Inflation in Minnesota

$

Prices in Minneapolis/st. Paul, 1988-2024 ($50)

According to the U.S. Bureau of Labor Statistics, prices in Minneapolis-St Paul, Minnesota are 155.85% higher in 2024 versus 1988 (a $77.92 difference in value).

Between 1988 and 2024: Minneapolis/St. Paul experienced an average inflation rate of 2.64% per year. This rate of change indicates significant inflation. In other words, $50 in Minneapolis/St. Paul in the year 1988 would cost $127.92 in 2024 for an equivalent purchase. Compared to the overall inflation rate of 2.75% during this same period, inflation in Minneapolis/St. Paul was lower.

In the year 1988: Pricing changed by 5.02%, which is above the average yearly change in Minneapolis/St. Paul during the 1988-2024 time period. Compared to inflation for all items in 1988 (4.08%), 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
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 · Wine at home · Chicago, Illinois · Dallas-Fort Worth, Texas · More

Buying power of $50.00 since 1988

Below are calculations of equivalent buying power in Minneapolis/St. Paul, over time, for $50 beginning in 1988. Each of the amounts below is equivalent in terms of what it could buy at the time:

YearUSD ValueInflation Rate
1988$50.005.02%
1989$52.054.10%
1990$54.184.10%
1991$55.632.68%
1992$57.593.53%
1993$59.393.11%
1994$61.263.16%
1995$62.712.37%
1996$64.803.33%
1997$66.302.30%
1998$67.531.87%
1999$69.673.16%
2000$72.574.16%
2001$75.303.76%
2002$76.621.76%
2003$77.941.73%
2004$80.162.85%
2005$82.382.77%
2006$83.701.61%
2007$85.862.57%
2008$89.153.83%
2009$88.69-0.51%
2010$90.331.85%
2011$93.573.59%
2012$95.762.33%
2013$97.621.94%
2014$98.981.40%
2015$98.36-0.62%
2016$99.891.55%
2017$102.062.18%
2018$104.512.40%
2019$106.702.10%
2020$107.931.16%
2021$113.164.84%
2022$121.597.45%
2023$124.882.71%
2024$127.922.44%*

* 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 1988 * 1988 USD value = 2024 USD value

Then plug in historical CPI values from above. The CPI for Minneapolis-St Paul, Minnesota was 117.200 in the year 1988 and 299.852 in 2024:

299.852 / 117.200 * $50 = $127.92

Therefore, according to U.S. Bureau of Labor Statistics, $50 in 1988 has the same "purchasing power" as $127.92 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.