Minneapolis/St. Paul, Minnesota prices: $41,059,405 in 1996 → $81,051,643.90 in 2024

Inflation in Minnesota

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Prices in Minneapolis/st. Paul, 1996-2024 ($41,059,405)

According to the U.S. Bureau of Labor Statistics, prices in Minneapolis-St Paul, Minnesota are 97.40% higher in 2024 versus 1996 (a $39,992,238.90 difference in value).

Between 1996 and 2024: Minneapolis/St. Paul experienced an average inflation rate of 2.46% per year. This rate of change indicates significant inflation. In other words, $41,059,405 in Minneapolis/St. Paul in the year 1996 would cost $81,051,643.90 in 2024 for an equivalent purchase. Compared to the overall inflation rate of 2.51% during this same period, inflation in Minneapolis/St. Paul was lower.

In the year 1996: Pricing changed by 3.33%, which is above the average yearly change in Minneapolis/St. Paul during the 1996-2024 time period. Compared to inflation for all items in 1996 (2.93%), 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 $41,059,405.00 since 1996

Below are calculations of equivalent buying power in Minneapolis/St. Paul, over time, for $41,059,405 beginning in 1996. Each of the amounts below is equivalent in terms of what it could buy at the time:

YearUSD ValueInflation Rate
1996$41,059,405.003.33%
1997$42,005,474.242.30%
1998$42,789,360.181.87%
1999$44,140,887.673.16%
2000$45,978,965.054.16%
2001$47,708,920.233.76%
2002$48,546,867.271.76%
2003$49,384,814.311.73%
2004$50,790,402.892.85%
2005$52,195,991.482.77%
2006$53,033,938.521.61%
2007$54,398,170.362.57%
2008$56,482,496.053.83%
2009$56,193,539.47-0.51%
2010$57,231,242.281.85%
2011$59,288,537.413.59%
2012$60,672,501.562.33%
2013$61,848,871.081.94%
2014$62,714,389.281.40%
2015$62,323,527.54-0.62%
2016$63,290,680.601.55%
2017$64,667,616.812.18%
2018$66,216,467.302.40%
2019$67,605,026.642.10%
2020$68,386,479.831.16%
2021$71,696,911.264.84%
2022$77,039,229.107.45%
2023$79,123,825.092.71%
2024$81,051,643.902.44%*

* 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 1996 * 1996 USD value = 2024 USD value

Then plug in historical CPI values from above. The CPI for Minneapolis-St Paul, Minnesota was 151.900 in the year 1996 and 299.852 in 2024:

299.852 / 151.900 * $41,059,405 = $81,051,643.90

Therefore, according to U.S. Bureau of Labor Statistics, $41,059,405 in 1996 has the same "purchasing power" as $81,051,643.90 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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