Minneapolis/St. Paul, Minnesota prices: $734,120,651 in 2005 → $1,139,966,574.02 in 2024

Inflation in Minnesota

$

Prices in Minneapolis/st. Paul, 2005-2024 ($734,120,651)

According to the U.S. Bureau of Labor Statistics, prices in Minneapolis-St Paul, Minnesota are 55.28% higher in 2024 versus 2005 (a $405,845,923.02 difference in value).

Between 2005 and 2024: Minneapolis/St. Paul experienced an average inflation rate of 2.34% per year. This rate of change indicates significant inflation. In other words, $734,120,651 in Minneapolis/St. Paul in the year 2005 would cost $1,139,966,574.02 in 2024 for an equivalent purchase. Compared to the overall inflation rate of 2.53% during this same period, inflation in Minneapolis/St. Paul was lower.

In the year 2005: Pricing changed by 2.77%, which is above the average yearly change in Minneapolis/St. Paul during the 2005-2024 time period. Compared to inflation for all items in 2005 (3.39%), 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
Airline fares · Women's apparel · Phoenix, Arizona · Televisions · More

Buying power of $734,120,651.00 since 2005

Below are calculations of equivalent buying power in Minneapolis/St. Paul, over time, for $734,120,651 beginning in 2005. Each of the amounts below is equivalent in terms of what it could buy at the time:

YearUSD ValueInflation Rate
2005$734,120,651.002.77%
2006$745,906,119.761.61%
2007$765,093,623.262.57%
2008$794,409,026.373.83%
2009$790,344,940.53-0.51%
2010$804,939,912.971.85%
2011$833,875,139.673.59%
2012$853,340,171.952.33%
2013$869,885,449.381.94%
2014$882,058,698.091.40%
2015$876,561,347.17-0.62%
2016$890,164,059.181.55%
2017$909,530,245.602.18%
2018$931,314,353.992.40%
2019$950,844,016.262.10%
2020$961,834,916.321.16%
2021$1,008,395,121.464.84%
2022$1,083,533,187.477.45%
2023$1,112,852,392.342.71%
2024$1,139,966,574.022.44%*

* 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 2005 * 2005 USD value = 2024 USD value

Then plug in historical CPI values from above. The CPI for Minneapolis-St Paul, Minnesota was 193.100 in the year 2005 and 299.852 in 2024:

299.852 / 193.100 * $734,120,651 = $1,139,966,574.02

Therefore, according to U.S. Bureau of Labor Statistics, $734,120,651 in 2005 has the same "purchasing power" as $1,139,966,574.02 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.