Minneapolis/St. Paul, Minnesota prices: $47,200 in 1985 $129,125.08 in 2023

Inflation in Minnesota

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Prices in Minneapolis/st. Paul, 1985-2023 ($47,200)

According to the U.S. Bureau of Labor Statistics, prices in Minneapolis-St Paul, Minnesota are 173.57% higher in 2023 versus 1985 (a $81,925.08 difference in value).

Between 1985 and 2023: Minneapolis/St. Paul experienced an average inflation rate of 2.68% per year. This rate of change indicates significant inflation. In other words, $47,200 in Minneapolis/St. Paul in the year 1985 would cost $129,125.08 in 2023 for an equivalent purchase. Compared to the overall inflation rate of 2.78% during this same period, inflation in Minneapolis/St. Paul was lower.

In the year 1985: Pricing changed by 3.78%, which is above the average yearly change in Minneapolis/St. Paul during the 1985-2023 time period. Compared to inflation for all items in 1985 (3.55%), 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
Years with the largest changes in pricing: 2022 (7.45%), 1988 (5.02%), and 2021 (4.84%).

View price changes for other categories
Juices and nonalcoholic drinks · Admission to sporting events · Wine at home · New trucks · More

Buying power of $47,200.00 since 1985

Below are calculations of equivalent buying power in Minneapolis/St. Paul, over time, for $47,200 beginning in 1985. Each of the amounts below is equivalent in terms of what it could buy at the time:

YearUSD ValueInflation Rate
1985$47,200.003.78%
1986$47,817.571.31%
1987$49,229.162.95%
1988$51,699.445.02%
1989$53,816.824.10%
1990$56,022.434.10%
1991$57,522.242.68%
1992$59,551.403.53%
1993$61,404.113.11%
1994$63,345.053.16%
1995$64,844.862.37%
1996$67,006.363.33%
1997$68,550.282.30%
1998$69,829.531.87%
1999$72,035.143.16%
2000$75,034.774.16%
2001$77,857.943.76%
2002$79,225.421.76%
2003$80,592.901.73%
2004$82,886.732.85%
2005$85,180.562.77%
2006$86,548.041.61%
2007$88,774.382.57%
2008$92,175.873.83%
2009$91,704.31-0.51%
2010$93,397.771.85%
2011$96,755.153.59%
2012$99,013.692.33%
2013$100,933.451.94%
2014$102,345.921.40%
2015$101,708.06-0.62%
2016$103,286.391.55%
2017$105,533.472.18%
2018$108,061.092.40%
2019$110,327.132.10%
2020$111,602.411.16%
2021$117,004.834.84%
2022$125,723.167.45%
2023$129,125.082.71%*

* 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:

Year1984198519861987198819891990199119921993199419951996199719981999200020012002200320042005200620072008200920102011201220132014201520162017201820192020202120222023
CPI103.100107.000108.400111.600117.200122.000127.000130.400135.000139.200143.600147.000151.900155.400158.300163.300170.100176.500179.600182.700187.900193.100196.200201.247208.958207.889211.728219.339224.459228.811232.013230.567234.145239.239244.969250.106252.997265.244285.008292.720

Adjust Minneapolis/St. Paul prices for inflation

Start with the inflation rate formula:

CPI in 2023 / CPI in 1985 * 1985 USD value = 2023 USD value

Then plug in historical CPI values from above. The CPI for Minneapolis-St Paul, Minnesota was 107.000 in the year 1985 and 292.720 in 2023:

292.720 / 107.000 * $47,200 = $129,125.08

Therefore, according to U.S. Bureau of Labor Statistics, $47,200 in 1985 has the same "purchasing power" as $129,125.08 in 2023 (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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