Minneapolis/St. Paul, Minnesota prices: $1,700,000,000 in 2004 → $2,712,870,675.89 in 2024

Inflation in Minnesota

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Prices in Minneapolis/st. Paul, 2004-2024 ($1,700,000,000)

According to the U.S. Bureau of Labor Statistics, prices in Minneapolis-St Paul, Minnesota are 59.58% higher in 2024 versus 2004 (a $1,012,870,675.89 difference in value).

Between 2004 and 2024: Minneapolis/St. Paul experienced an average inflation rate of 2.36% per year. This rate of change indicates significant inflation. In other words, $1,700,000,000 in Minneapolis/St. Paul in the year 2004 would cost $2,712,870,675.89 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 2004: Pricing changed by 2.85%, which is above the average yearly change in Minneapolis/St. Paul during the 2004-2024 time period. Compared to inflation for all items in 2004 (2.68%), 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 $1,700,000,000.00 since 2004

Below are calculations of equivalent buying power in Minneapolis/St. Paul, over time, for $1,700,000,000 beginning in 2004. Each of the amounts below is equivalent in terms of what it could buy at the time:

YearUSD ValueInflation Rate
2004$1,700,000,000.002.85%
2005$1,747,046,301.222.77%
2006$1,775,093,134.651.61%
2007$1,820,755,188.932.57%
2008$1,890,519,425.233.83%
2009$1,880,847,791.38-0.51%
2010$1,915,580,627.991.85%
2011$1,984,440,127.733.59%
2012$2,030,762,639.702.33%
2013$2,070,136,774.881.94%
2014$2,099,106,439.601.40%
2015$2,086,023,948.91-0.62%
2016$2,118,395,423.101.55%
2017$2,164,482,703.572.18%
2018$2,216,324,108.572.40%
2019$2,262,800,425.762.10%
2020$2,288,956,359.771.16%
2021$2,399,759,446.514.84%
2022$2,578,571,580.637.45%
2023$2,648,344,864.292.71%
2024$2,712,870,675.892.44%*

* 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 2004 * 2004 USD value = 2024 USD value

Then plug in historical CPI values from above. The CPI for Minneapolis-St Paul, Minnesota was 187.900 in the year 2004 and 299.852 in 2024:

299.852 / 187.900 * $1,700,000,000 = $2,712,870,675.89

Therefore, according to U.S. Bureau of Labor Statistics, $1,700,000,000 in 2004 has the same "purchasing power" as $2,712,870,675.89 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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