Minneapolis/St. Paul, Minnesota prices: $892 in 1994 $1,862.59 in 2024

Inflation in Minnesota

$

Prices in Minneapolis/st. Paul, 1994-2024 ($892)

According to the U.S. Bureau of Labor Statistics, prices in Minneapolis-St Paul, Minnesota are 108.81% higher in 2024 versus 1994 (a $970.59 difference in value).

Between 1994 and 2024: Minneapolis/St. Paul experienced an average inflation rate of 2.48% per year. This rate of change indicates significant inflation. In other words, $892 in Minneapolis/St. Paul in the year 1994 would cost $1,862.59 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 1994: Pricing changed by 3.16%, which is above the average yearly change in Minneapolis/St. Paul during the 1994-2024 time period. Compared to inflation for all items in 1994 (2.60%), 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
Film and photographic supplies · Bananas · Fresh fruits · Fish and seafood · More

Buying power of $892.00 since 1994

Below are calculations of equivalent buying power in Minneapolis/St. Paul, over time, for $892 beginning in 1994. Each of the amounts below is equivalent in terms of what it could buy at the time:

YearUSD ValueInflation Rate
1994$892.003.16%
1995$913.122.37%
1996$943.563.33%
1997$965.302.30%
1998$983.311.87%
1999$1,014.373.16%
2000$1,056.614.16%
2001$1,096.363.76%
2002$1,115.621.76%
2003$1,134.881.73%
2004$1,167.182.85%
2005$1,199.482.77%
2006$1,218.741.61%
2007$1,250.092.57%
2008$1,297.983.83%
2009$1,291.34-0.51%
2010$1,315.191.85%
2011$1,362.473.59%
2012$1,394.272.33%
2013$1,421.311.94%
2014$1,441.191.40%
2015$1,432.21-0.62%
2016$1,454.441.55%
2017$1,486.082.18%
2018$1,521.672.40%
2019$1,553.582.10%
2020$1,571.541.16%
2021$1,647.624.84%
2022$1,770.387.45%
2023$1,818.292.71%
2024$1,862.592.44%*

* 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 1994 * 1994 USD value = 2024 USD value

Then plug in historical CPI values from above. The CPI for Minneapolis-St Paul, Minnesota was 143.600 in the year 1994 and 299.852 in 2024:

299.852 / 143.600 * $892 = $1,862.59

Therefore, according to U.S. Bureau of Labor Statistics, $892 in 1994 has the same "purchasing power" as $1,862.59 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.