Minneapolis/St. Paul, Minnesota prices: $699 in 1993 → $1,505.72 in 2024

Inflation in Minnesota

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Prices in Minneapolis/st. Paul, 1993-2024 ($699)

According to the U.S. Bureau of Labor Statistics, prices in Minneapolis-St Paul, Minnesota are 115.41% higher in 2024 versus 1993 (a $806.72 difference in value).

Between 1993 and 2024: Minneapolis/St. Paul experienced an average inflation rate of 2.51% per year. This rate of change indicates significant inflation. In other words, $699 in Minneapolis/St. Paul in the year 1993 would cost $1,505.72 in 2024 for an equivalent purchase. Compared to the overall inflation rate of 2.53% during this same period, inflation in Minneapolis/St. Paul was lower.

In the year 1993: Pricing changed by 3.11%, which is above the average yearly change in Minneapolis/St. Paul during the 1993-2024 time period. Compared to inflation for all items in 1993 (2.95%), 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
Admission to sporting events · Airline fares · Rent of primary residence · Frankfurters · More

Buying power of $699.00 since 1993

Below are calculations of equivalent buying power in Minneapolis/St. Paul, over time, for $699 beginning in 1993. Each of the amounts below is equivalent in terms of what it could buy at the time:

YearUSD ValueInflation Rate
1993$699.003.11%
1994$721.093.16%
1995$738.172.37%
1996$762.773.33%
1997$780.352.30%
1998$794.911.87%
1999$820.023.16%
2000$854.174.16%
2001$886.303.76%
2002$901.871.76%
2003$917.441.73%
2004$943.552.85%
2005$969.662.77%
2006$985.231.61%
2007$1,010.572.57%
2008$1,049.293.83%
2009$1,043.93-0.51%
2010$1,063.201.85%
2011$1,101.423.59%
2012$1,127.132.33%
2013$1,148.991.94%
2014$1,165.071.40%
2015$1,157.80-0.62%
2016$1,175.771.55%
2017$1,201.352.18%
2018$1,230.122.40%
2019$1,255.922.10%
2020$1,270.441.16%
2021$1,331.944.84%
2022$1,431.187.45%
2023$1,469.912.71%
2024$1,505.722.44%*

* 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 1993 * 1993 USD value = 2024 USD value

Then plug in historical CPI values from above. The CPI for Minneapolis-St Paul, Minnesota was 139.200 in the year 1993 and 299.852 in 2024:

299.852 / 139.200 * $699 = $1,505.72

Therefore, according to U.S. Bureau of Labor Statistics, $699 in 1993 has the same "purchasing power" as $1,505.72 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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