Minneapolis/St. Paul, Minnesota prices: $8.49 in 1985 $23.23 in 2023

Inflation in Minnesota

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Prices in Minneapolis/st. Paul, 1985-2023 ($8.49)

According to the U.S. Bureau of Labor Statistics, prices in Minneapolis-St Paul, Minnesota are 173.57% higher in 2023 versus 1985 (a $14.74 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, $8.49 in Minneapolis/St. Paul in the year 1985 would cost $23.23 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
Wine at home · Bread · Educational books and supplies · Admission to sporting events · More

Buying power of $8.49 since 1985

Below are calculations of equivalent buying power in Minneapolis/St. Paul, over time, for $8.49 beginning in 1985. Each of the amounts below is equivalent in terms of what it could buy at the time:

YearUSD ValueInflation Rate
1985$8.493.78%
1986$8.601.31%
1987$8.852.95%
1988$9.305.02%
1989$9.684.10%
1990$10.084.10%
1991$10.352.68%
1992$10.713.53%
1993$11.043.11%
1994$11.393.16%
1995$11.662.37%
1996$12.053.33%
1997$12.332.30%
1998$12.561.87%
1999$12.963.16%
2000$13.504.16%
2001$14.003.76%
2002$14.251.76%
2003$14.501.73%
2004$14.912.85%
2005$15.322.77%
2006$15.571.61%
2007$15.972.57%
2008$16.583.83%
2009$16.50-0.51%
2010$16.801.85%
2011$17.403.59%
2012$17.812.33%
2013$18.161.94%
2014$18.411.40%
2015$18.29-0.62%
2016$18.581.55%
2017$18.982.18%
2018$19.442.40%
2019$19.842.10%
2020$20.071.16%
2021$21.054.84%
2022$22.617.45%
2023$23.232.71%*

* 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 * $8.49 = $23.23

Therefore, according to U.S. Bureau of Labor Statistics, $8.49 in 1985 has the same "purchasing power" as $23.23 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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