Minneapolis/St. Paul, Minnesota prices: $53.39 in 1989 → $131.22 in 2024

Inflation in Minnesota

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Prices in Minneapolis/st. Paul, 1989-2024 ($53.39)

According to the U.S. Bureau of Labor Statistics, prices in Minneapolis-St Paul, Minnesota are 145.78% higher in 2024 versus 1989 (a $77.83 difference in value).

Between 1989 and 2024: Minneapolis/St. Paul experienced an average inflation rate of 2.60% per year. This rate of change indicates significant inflation. In other words, $53.39 in Minneapolis/St. Paul in the year 1989 would cost $131.22 in 2024 for an equivalent purchase. Compared to the overall inflation rate of 2.69% during this same period, inflation in Minneapolis/St. Paul was lower.

In the year 1989: Pricing changed by 4.10%, which is above the average yearly change in Minneapolis/St. Paul during the 1989-2024 time period. Compared to inflation for all items in 1989 (4.83%), 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 $53.39 since 1989

Below are calculations of equivalent buying power in Minneapolis/St. Paul, over time, for $53.39 beginning in 1989. Each of the amounts below is equivalent in terms of what it could buy at the time:

YearUSD ValueInflation Rate
1989$53.394.10%
1990$55.584.10%
1991$57.072.68%
1992$59.083.53%
1993$60.923.11%
1994$62.843.16%
1995$64.332.37%
1996$66.473.33%
1997$68.012.30%
1998$69.281.87%
1999$71.463.16%
2000$74.444.16%
2001$77.243.76%
2002$78.601.76%
2003$79.951.73%
2004$82.232.85%
2005$84.502.77%
2006$85.861.61%
2007$88.072.57%
2008$91.443.83%
2009$90.98-0.51%
2010$92.661.85%
2011$95.993.59%
2012$98.232.33%
2013$100.131.94%
2014$101.531.40%
2015$100.90-0.62%
2016$102.471.55%
2017$104.702.18%
2018$107.202.40%
2019$109.452.10%
2020$110.721.16%
2021$116.084.84%
2022$124.737.45%
2023$128.102.71%
2024$131.222.44%*

* 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 1989 * 1989 USD value = 2024 USD value

Then plug in historical CPI values from above. The CPI for Minneapolis-St Paul, Minnesota was 122.000 in the year 1989 and 299.852 in 2024:

299.852 / 122.000 * $53.39 = $131.22

Therefore, according to U.S. Bureau of Labor Statistics, $53.39 in 1989 has the same "purchasing power" as $131.22 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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