Minneapolis/St. Paul, Minnesota prices: $7,500 in 1996 → $14,805.07 in 2024

Inflation in Minnesota

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Prices in Minneapolis/st. Paul, 1996-2024 ($7,500)

According to the U.S. Bureau of Labor Statistics, prices in Minneapolis-St Paul, Minnesota are 97.40% higher in 2024 versus 1996 (a $7,305.07 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, $7,500 in Minneapolis/St. Paul in the year 1996 would cost $14,805.07 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 $7,500.00 since 1996

Below are calculations of equivalent buying power in Minneapolis/St. Paul, over time, for $7,500 beginning in 1996. Each of the amounts below is equivalent in terms of what it could buy at the time:

YearUSD ValueInflation Rate
1996$7,500.003.33%
1997$7,672.812.30%
1998$7,816.001.87%
1999$8,062.873.16%
2000$8,398.624.16%
2001$8,714.613.76%
2002$8,867.681.76%
2003$9,020.741.73%
2004$9,277.492.85%
2005$9,534.232.77%
2006$9,687.291.61%
2007$9,936.492.57%
2008$10,317.223.83%
2009$10,264.43-0.51%
2010$10,453.981.85%
2011$10,829.773.59%
2012$11,082.572.33%
2013$11,297.451.94%
2014$11,455.551.40%
2015$11,384.15-0.62%
2016$11,560.811.55%
2017$11,812.332.18%
2018$12,095.242.40%
2019$12,348.882.10%
2020$12,491.621.16%
2021$13,096.314.84%
2022$14,072.157.45%
2023$14,452.932.71%
2024$14,805.072.44%*

* 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 * $7,500 = $14,805.07

Therefore, according to U.S. Bureau of Labor Statistics, $7,500 in 1996 has the same "purchasing power" as $14,805.07 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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