Minneapolis/St. Paul, Minnesota prices: $250 in 2003 → $410.31 in 2024

Inflation in Minnesota

$

Prices in Minneapolis/st. Paul, 2003-2024 ($250)

According to the U.S. Bureau of Labor Statistics, prices in Minneapolis-St Paul, Minnesota are 64.12% higher in 2024 versus 2003 (a $160.31 difference in value).

Between 2003 and 2024: Minneapolis/St. Paul experienced an average inflation rate of 2.39% per year. This rate of change indicates significant inflation. In other words, $250 in Minneapolis/St. Paul in the year 2003 would cost $410.31 in 2024 for an equivalent purchase. Compared to the overall inflation rate of 2.57% during this same period, inflation in Minneapolis/St. Paul was lower.

In the year 2003: Pricing changed by 1.73%, which is below the average yearly change in Minneapolis/St. Paul during the 2003-2024 time period. Compared to inflation for all items in 2003 (2.27%), inflation in Minneapolis/St. Paul was lower.

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
Milk · Educational books and supplies · Seattle, Washington · Bread · More

Buying power of $250.00 since 2003

Below are calculations of equivalent buying power in Minneapolis/St. Paul, over time, for $250 beginning in 2003. Each of the amounts below is equivalent in terms of what it could buy at the time:

YearUSD ValueInflation Rate
2003$250.001.73%
2004$257.122.85%
2005$264.232.77%
2006$268.471.61%
2007$275.382.57%
2008$285.933.83%
2009$284.47-0.51%
2010$289.721.85%
2011$300.143.59%
2012$307.142.33%
2013$313.101.94%
2014$317.481.40%
2015$315.50-0.62%
2016$320.401.55%
2017$327.372.18%
2018$335.212.40%
2019$342.242.10%
2020$346.191.16%
2021$362.954.84%
2022$389.997.45%
2023$400.552.71%
2024$410.312.44%*

* 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 2003 * 2003 USD value = 2024 USD value

Then plug in historical CPI values from above. The CPI for Minneapolis-St Paul, Minnesota was 182.700 in the year 2003 and 299.852 in 2024:

299.852 / 182.700 * $250 = $410.31

Therefore, according to U.S. Bureau of Labor Statistics, $250 in 2003 has the same "purchasing power" as $410.31 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.

» Read more about inflation and investment.