Minneapolis/St. Paul, Minnesota prices: $79,500 in 1998 → $150,588.97 in 2024

Inflation in Minnesota

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Prices in Minneapolis/st. Paul, 1998-2024 ($79,500)

According to the U.S. Bureau of Labor Statistics, prices in Minneapolis-St Paul, Minnesota are 89.42% higher in 2024 versus 1998 (a $71,088.97 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, $79,500 in Minneapolis/St. Paul in the year 1998 would cost $150,588.97 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
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Buying power of $79,500.00 since 1998

Below are calculations of equivalent buying power in Minneapolis/St. Paul, over time, for $79,500 beginning in 1998. Each of the amounts below is equivalent in terms of what it could buy at the time:

YearUSD ValueInflation Rate
1998$79,500.001.87%
1999$82,011.053.16%
2000$85,426.094.16%
2001$88,640.243.76%
2002$90,197.091.76%
2003$91,753.951.73%
2004$94,365.452.85%
2005$96,976.942.77%
2006$98,533.801.61%
2007$101,068.462.57%
2008$104,941.003.83%
2009$104,404.14-0.51%
2010$106,332.131.85%
2011$110,154.463.59%
2012$112,725.782.33%
2013$114,911.401.94%
2014$116,519.481.40%
2015$115,793.28-0.62%
2016$117,590.191.55%
2017$120,148.462.18%
2018$123,026.122.40%
2019$125,605.982.10%
2020$127,057.871.16%
2021$133,208.454.84%
2022$143,134.157.45%
2023$147,007.202.71%
2024$150,588.972.44%*

* 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 * $79,500 = $150,588.97

Therefore, according to U.S. Bureau of Labor Statistics, $79,500 in 1998 has the same "purchasing power" as $150,588.97 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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