Minneapolis/St. Paul, Minnesota prices: $10,000 in 1998 → $18,942.01 in 2024

Inflation in Minnesota

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Prices in Minneapolis/st. Paul, 1998-2024 ($10,000)

According to the U.S. Bureau of Labor Statistics, prices in Minneapolis-St Paul, Minnesota are 89.42% higher in 2024 versus 1998 (a $8,942.01 difference in value).

Between 1998 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, $10,000 in Minneapolis/St. Paul in the year 1998 would cost $18,942.01 in 2024 for an equivalent purchase. Compared to the overall inflation rate of 2.55% during this same period, inflation in Minneapolis/St. Paul was lower.

In the year 1998: Pricing changed by 1.87%, which is below the average yearly change in Minneapolis/St. Paul during the 1998-2024 time period. Compared to inflation for all items in 1998 (1.55%), 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
Financial services · Women's apparel · Seattle, Washington · Electricity · More

Buying power of $10,000.00 since 1998

Below are calculations of equivalent buying power in Minneapolis/St. Paul, over time, for $10,000 beginning in 1998. Each of the amounts below is equivalent in terms of what it could buy at the time:

YearUSD ValueInflation Rate
1998$10,000.001.87%
1999$10,315.863.16%
2000$10,745.424.16%
2001$11,149.723.76%
2002$11,345.551.76%
2003$11,541.381.73%
2004$11,869.872.85%
2005$12,198.362.77%
2006$12,394.191.61%
2007$12,713.012.57%
2008$13,200.133.83%
2009$13,132.60-0.51%
2010$13,375.111.85%
2011$13,855.913.59%
2012$14,179.342.33%
2013$14,454.261.94%
2014$14,656.541.40%
2015$14,565.19-0.62%
2016$14,791.221.55%
2017$15,113.012.18%
2018$15,474.982.40%
2019$15,799.492.10%
2020$15,982.121.16%
2021$16,755.784.84%
2022$18,004.307.45%
2023$18,491.472.71%
2024$18,942.012.44%*

* 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 1998 * 1998 USD value = 2024 USD value

Then plug in historical CPI values from above. The CPI for Minneapolis-St Paul, Minnesota was 158.300 in the year 1998 and 299.852 in 2024:

299.852 / 158.300 * $10,000 = $18,942.01

Therefore, according to U.S. Bureau of Labor Statistics, $10,000 in 1998 has the same "purchasing power" as $18,942.01 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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