Minneapolis/St. Paul, Minnesota prices: $1 in 1991 $2.24 in 2023

Inflation in Minnesota

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Prices in Minneapolis/st. Paul, 1991-2023 ($1)

According to the U.S. Bureau of Labor Statistics, prices in Minneapolis-St Paul, Minnesota are 124.48% higher in 2023 versus 1991 (a $1.24 difference in value).

Between 1991 and 2023: Minneapolis/St. Paul experienced an average inflation rate of 2.56% per year. This rate of change indicates significant inflation. In other words, $1 in Minneapolis/St. Paul in the year 1991 would cost $2.24 in 2023 for an equivalent purchase. Compared to the overall inflation rate of 2.55% during this same period, inflation in Minneapolis/St. Paul was higher.

In the year 1991: Pricing changed by 2.68%, which is above the average yearly change in Minneapolis/St. Paul during the 1991-2023 time period. Compared to inflation for all items in 1991 (4.23%), 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
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 $1.00 since 1991

Below are calculations of equivalent buying power in Minneapolis/St. Paul, over time, for $1 beginning in 1991. Each of the amounts below is equivalent in terms of what it could buy at the time:

YearUSD ValueInflation Rate
1991$1.002.68%
1992$1.043.53%
1993$1.073.11%
1994$1.103.16%
1995$1.132.37%
1996$1.163.33%
1997$1.192.30%
1998$1.211.87%
1999$1.253.16%
2000$1.304.16%
2001$1.353.76%
2002$1.381.76%
2003$1.401.73%
2004$1.442.85%
2005$1.482.77%
2006$1.501.61%
2007$1.542.57%
2008$1.603.83%
2009$1.59-0.51%
2010$1.621.85%
2011$1.683.59%
2012$1.722.33%
2013$1.751.94%
2014$1.781.40%
2015$1.77-0.62%
2016$1.801.55%
2017$1.832.18%
2018$1.882.40%
2019$1.922.10%
2020$1.941.16%
2021$2.034.84%
2022$2.197.45%
2023$2.242.71%*

* 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 1991 * 1991 USD value = 2023 USD value

Then plug in historical CPI values from above. The CPI for Minneapolis-St Paul, Minnesota was 130.400 in the year 1991 and 292.720 in 2023:

292.720 / 130.400 * $1 = $2.24

Therefore, according to U.S. Bureau of Labor Statistics, $1 in 1991 has the same "purchasing power" as $2.24 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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