Minneapolis/St. Paul, Minnesota prices: $23 in 1995 → $46.92 in 2024

Inflation in Minnesota

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Prices in Minneapolis/st. Paul, 1995-2024 ($23)

According to the U.S. Bureau of Labor Statistics, prices in Minneapolis-St Paul, Minnesota are 103.98% higher in 2024 versus 1995 (a $23.92 difference in value).

Between 1995 and 2024: Minneapolis/St. Paul experienced an average inflation rate of 2.49% per year. This rate of change indicates significant inflation. In other words, $23 in Minneapolis/St. Paul in the year 1995 would cost $46.92 in 2024 for an equivalent purchase. Compared to the overall inflation rate of 2.52% during this same period, inflation in Minneapolis/St. Paul was lower.

In the year 1995: Pricing changed by 2.37%, which is below the average yearly change in Minneapolis/St. Paul during the 1995-2024 time period. Compared to inflation for all items in 1995 (2.81%), 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 $23.00 since 1995

Below are calculations of equivalent buying power in Minneapolis/St. Paul, over time, for $23 beginning in 1995. Each of the amounts below is equivalent in terms of what it could buy at the time:

YearUSD ValueInflation Rate
1995$23.002.37%
1996$23.773.33%
1997$24.312.30%
1998$24.771.87%
1999$25.553.16%
2000$26.614.16%
2001$27.623.76%
2002$28.101.76%
2003$28.591.73%
2004$29.402.85%
2005$30.212.77%
2006$30.701.61%
2007$31.492.57%
2008$32.693.83%
2009$32.53-0.51%
2010$33.131.85%
2011$34.323.59%
2012$35.122.33%
2013$35.801.94%
2014$36.301.40%
2015$36.08-0.62%
2016$36.631.55%
2017$37.432.18%
2018$38.332.40%
2019$39.132.10%
2020$39.581.16%
2021$41.504.84%
2022$44.597.45%
2023$45.802.71%
2024$46.922.44%*

* 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 1995 * 1995 USD value = 2024 USD value

Then plug in historical CPI values from above. The CPI for Minneapolis-St Paul, Minnesota was 147.000 in the year 1995 and 299.852 in 2024:

299.852 / 147.000 * $23 = $46.92

Therefore, according to U.S. Bureau of Labor Statistics, $23 in 1995 has the same "purchasing power" as $46.92 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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