Minneapolis/St. Paul, Minnesota prices: $8,500 in 1995 → $17,338.38 in 2024

Inflation in Minnesota

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Prices in Minneapolis/st. Paul, 1995-2024 ($8,500)

According to the U.S. Bureau of Labor Statistics, prices in Minneapolis-St Paul, Minnesota are 103.98% higher in 2024 versus 1995 (a $8,838.38 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, $8,500 in Minneapolis/St. Paul in the year 1995 would cost $17,338.38 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 $8,500.00 since 1995

Below are calculations of equivalent buying power in Minneapolis/St. Paul, over time, for $8,500 beginning in 1995. Each of the amounts below is equivalent in terms of what it could buy at the time:

YearUSD ValueInflation Rate
1995$8,500.002.37%
1996$8,783.333.33%
1997$8,985.712.30%
1998$9,153.401.87%
1999$9,442.523.16%
2000$9,835.714.16%
2001$10,205.783.76%
2002$10,385.031.76%
2003$10,564.291.73%
2004$10,864.972.85%
2005$11,165.652.77%
2006$11,344.901.61%
2007$11,636.732.57%
2008$12,082.613.83%
2009$12,020.79-0.51%
2010$12,242.781.85%
2011$12,682.873.59%
2012$12,978.922.33%
2013$13,230.571.94%
2014$13,415.721.40%
2015$13,332.11-0.62%
2016$13,539.001.55%
2017$13,833.552.18%
2018$14,164.872.40%
2019$14,461.912.10%
2020$14,629.081.16%
2021$15,337.244.84%
2022$16,480.057.45%
2023$16,925.992.71%
2024$17,338.382.44%*

* 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 * $8,500 = $17,338.38

Therefore, according to U.S. Bureau of Labor Statistics, $8,500 in 1995 has the same "purchasing power" as $17,338.38 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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