Minneapolis/St. Paul, Minnesota prices: $14,000,000 in 2001 → $23,784,294.62 in 2024

Inflation in Minnesota

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Prices in Minneapolis/st. Paul, 2001-2024 ($14,000,000)

According to the U.S. Bureau of Labor Statistics, prices in Minneapolis-St Paul, Minnesota are 69.89% higher in 2024 versus 2001 (a $9,784,294.62 difference in value).

Between 2001 and 2024: Minneapolis/St. Paul experienced an average inflation rate of 2.33% per year. This rate of change indicates significant inflation. In other words, $14,000,000 in Minneapolis/St. Paul in the year 2001 would cost $23,784,294.62 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 2001: Pricing changed by 3.76%, which is above the average yearly change in Minneapolis/St. Paul during the 2001-2024 time period. Compared to inflation for all items in 2001 (2.83%), 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 $14,000,000.00 since 2001

Below are calculations of equivalent buying power in Minneapolis/St. Paul, over time, for $14,000,000 beginning in 2001. Each of the amounts below is equivalent in terms of what it could buy at the time:

YearUSD ValueInflation Rate
2001$14,000,000.003.76%
2002$14,245,892.351.76%
2003$14,491,784.701.73%
2004$14,904,249.292.85%
2005$15,316,713.882.77%
2006$15,562,606.231.61%
2007$15,962,934.842.57%
2008$16,574,572.243.83%
2009$16,489,779.04-0.51%
2010$16,794,288.951.85%
2011$17,397,994.333.59%
2012$17,804,113.312.33%
2013$18,149,314.451.94%
2014$18,403,297.451.40%
2015$18,288,600.57-0.62%
2016$18,572,407.931.55%
2017$18,976,464.592.18%
2018$19,430,968.842.40%
2019$19,838,436.262.10%
2020$20,067,750.711.16%
2021$21,039,184.144.84%
2022$22,606,866.867.45%
2023$23,218,583.572.71%
2024$23,784,294.622.44%*

* 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 2001 * 2001 USD value = 2024 USD value

Then plug in historical CPI values from above. The CPI for Minneapolis-St Paul, Minnesota was 176.500 in the year 2001 and 299.852 in 2024:

299.852 / 176.500 * $14,000,000 = $23,784,294.62

Therefore, according to U.S. Bureau of Labor Statistics, $14,000,000 in 2001 has the same "purchasing power" as $23,784,294.62 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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