Minneapolis/St. Paul, Minnesota prices: $606.17 in 1989 → $1,489.85 in 2024

Inflation in Minnesota

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Prices in Minneapolis/st. Paul, 1989-2024 ($606.17)

According to the U.S. Bureau of Labor Statistics, prices in Minneapolis-St Paul, Minnesota are 145.78% higher in 2024 versus 1989 (a $883.68 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, $606.17 in Minneapolis/St. Paul in the year 1989 would cost $1,489.85 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
Alcoholic beverages · Detroit, Michigan · Milk · New cars · More

Buying power of $606.17 since 1989

Below are calculations of equivalent buying power in Minneapolis/St. Paul, over time, for $606.17 beginning in 1989. Each of the amounts below is equivalent in terms of what it could buy at the time:

YearUSD ValueInflation Rate
1989$606.174.10%
1990$631.014.10%
1991$647.912.68%
1992$670.763.53%
1993$691.633.11%
1994$713.493.16%
1995$730.392.37%
1996$754.733.33%
1997$772.122.30%
1998$786.531.87%
1999$811.373.16%
2000$845.164.16%
2001$876.963.76%
2002$892.361.76%
2003$907.761.73%
2004$933.602.85%
2005$959.442.77%
2006$974.841.61%
2007$999.922.57%
2008$1,038.233.83%
2009$1,032.92-0.51%
2010$1,051.991.85%
2011$1,089.813.59%
2012$1,115.252.33%
2013$1,136.871.94%
2014$1,152.781.40%
2015$1,145.60-0.62%
2016$1,163.371.55%
2017$1,188.682.18%
2018$1,217.152.40%
2019$1,242.682.10%
2020$1,257.041.16%
2021$1,317.894.84%
2022$1,416.097.45%
2023$1,454.412.71%
2024$1,489.852.44%*

* 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 * $606.17 = $1,489.85

Therefore, according to U.S. Bureau of Labor Statistics, $606.17 in 1989 has the same "purchasing power" as $1,489.85 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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