Minneapolis/St. Paul, Minnesota prices: $6,500,000 in 2001 → $11,042,708.22 in 2024

Inflation in Minnesota

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Prices in Minneapolis/st. Paul, 2001-2024 ($6,500,000)

According to the U.S. Bureau of Labor Statistics, prices in Minneapolis-St Paul, Minnesota are 69.89% higher in 2024 versus 2001 (a $4,542,708.22 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, $6,500,000 in Minneapolis/St. Paul in the year 2001 would cost $11,042,708.22 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 $6,500,000.00 since 2001

Below are calculations of equivalent buying power in Minneapolis/St. Paul, over time, for $6,500,000 beginning in 2001. Each of the amounts below is equivalent in terms of what it could buy at the time:

YearUSD ValueInflation Rate
2001$6,500,000.003.76%
2002$6,614,164.311.76%
2003$6,728,328.611.73%
2004$6,919,830.032.85%
2005$7,111,331.442.77%
2006$7,225,495.751.61%
2007$7,411,362.612.57%
2008$7,695,337.113.83%
2009$7,655,968.84-0.51%
2010$7,797,348.441.85%
2011$8,077,640.233.59%
2012$8,266,195.472.33%
2013$8,426,467.421.94%
2014$8,544,388.101.40%
2015$8,491,135.98-0.62%
2016$8,622,903.681.55%
2017$8,810,501.422.18%
2018$9,021,521.252.40%
2019$9,210,702.552.10%
2020$9,317,169.971.16%
2021$9,768,192.634.84%
2022$10,496,045.337.45%
2023$10,780,056.662.71%
2024$11,042,708.222.44%*

* 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 * $6,500,000 = $11,042,708.22

Therefore, according to U.S. Bureau of Labor Statistics, $6,500,000 in 2001 has the same "purchasing power" as $11,042,708.22 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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