Minneapolis/St. Paul, Minnesota prices: $16 in 1992 → $35.54 in 2024

Inflation in Minnesota

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Prices in Minneapolis/st. Paul, 1992-2024 ($16)

According to the U.S. Bureau of Labor Statistics, prices in Minneapolis-St Paul, Minnesota are 122.11% higher in 2024 versus 1992 (a $19.54 difference in value).

Between 1992 and 2024: Minneapolis/St. Paul experienced an average inflation rate of 2.53% per year. This rate of change indicates significant inflation. In other words, $16 in Minneapolis/St. Paul in the year 1992 would cost $35.54 in 2024 for an equivalent purchase. Compared to the overall inflation rate of 2.55% during this same period, inflation in Minneapolis/St. Paul was lower.

In the year 1992: Pricing changed by 3.53%, which is above the average yearly change in Minneapolis/St. Paul during the 1992-2024 time period. Compared to inflation for all items in 1992 (3.03%), 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
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Buying power of $16.00 since 1992

Below are calculations of equivalent buying power in Minneapolis/St. Paul, over time, for $16 beginning in 1992. Each of the amounts below is equivalent in terms of what it could buy at the time:

YearUSD ValueInflation Rate
1992$16.003.53%
1993$16.503.11%
1994$17.023.16%
1995$17.422.37%
1996$18.003.33%
1997$18.422.30%
1998$18.761.87%
1999$19.353.16%
2000$20.164.16%
2001$20.923.76%
2002$21.291.76%
2003$21.651.73%
2004$22.272.85%
2005$22.892.77%
2006$23.251.61%
2007$23.852.57%
2008$24.773.83%
2009$24.64-0.51%
2010$25.091.85%
2011$26.003.59%
2012$26.602.33%
2013$27.121.94%
2014$27.501.40%
2015$27.33-0.62%
2016$27.751.55%
2017$28.352.18%
2018$29.032.40%
2019$29.642.10%
2020$29.981.16%
2021$31.444.84%
2022$33.787.45%
2023$34.692.71%
2024$35.542.44%*

* 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 1992 * 1992 USD value = 2024 USD value

Then plug in historical CPI values from above. The CPI for Minneapolis-St Paul, Minnesota was 135.000 in the year 1992 and 299.852 in 2024:

299.852 / 135.000 * $16 = $35.54

Therefore, according to U.S. Bureau of Labor Statistics, $16 in 1992 has the same "purchasing power" as $35.54 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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