Minneapolis/St. Paul, Minnesota prices: $6,500,000 in 2015 → $8,453,239.19 in 2024

Inflation in Minnesota

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Prices in Minneapolis/st. Paul, 2015-2024 ($6,500,000)

According to the U.S. Bureau of Labor Statistics, prices in Minneapolis-St Paul, Minnesota are 30.05% higher in 2024 versus 2015 (a $1,953,239.19 difference in value).

Between 2015 and 2024: Minneapolis/St. Paul experienced an average inflation rate of 2.96% per year. This rate of change indicates significant inflation. In other words, $6,500,000 in Minneapolis/St. Paul in the year 2015 would cost $8,453,239.19 in 2024 for an equivalent purchase. Compared to the overall inflation rate of 3.16% during this same period, inflation in Minneapolis/St. Paul was lower.

In the year 2015: Pricing changed by -0.62%, which is significantly below the average yearly change in Minneapolis/St. Paul during the 2015-2024 time period. Compared to inflation for all items in 2015 (0.12%), 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
Dental services · Gasoline (all types) · Boston, Massachusetts · Educational books and supplies · More

Buying power of $6,500,000.00 since 2015

Below are calculations of equivalent buying power in Minneapolis/St. Paul, over time, for $6,500,000 beginning in 2015. Each of the amounts below is equivalent in terms of what it could buy at the time:

YearUSD ValueInflation Rate
2015$6,500,000.00-0.62%
2016$6,600,868.731.55%
2017$6,744,475.582.18%
2018$6,906,012.142.40%
2019$7,050,831.212.10%
2020$7,132,332.471.16%
2021$7,477,592.204.84%
2022$8,034,766.477.45%
2023$8,252,178.332.71%
2024$8,453,239.192.44%*

* 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 2015 * 2015 USD value = 2024 USD value

Then plug in historical CPI values from above. The CPI for Minneapolis-St Paul, Minnesota was 230.567 in the year 2015 and 299.852 in 2024:

299.852 / 230.567 * $6,500,000 = $8,453,239.19

Therefore, according to U.S. Bureau of Labor Statistics, $6,500,000 in 2015 has the same "purchasing power" as $8,453,239.19 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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