Minneapolis/St. Paul, Minnesota prices: $2,500,000 in 1999 $4,481,322.72 in 2023

Inflation in Minnesota

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Prices in Minneapolis/st. Paul, 1999-2023 ($2,500,000)

According to the U.S. Bureau of Labor Statistics, prices in Minneapolis-St Paul, Minnesota are 79.25% higher in 2023 versus 1999 (a $1,981,322.72 difference in value).

Between 1999 and 2023: Minneapolis/St. Paul experienced an average inflation rate of 2.46% per year. This rate of change indicates significant inflation. In other words, $2,500,000 in Minneapolis/St. Paul in the year 1999 would cost $4,481,322.72 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 lower.

In the year 1999: Pricing changed by 3.16%, which is above the average yearly change in Minneapolis/St. Paul during the 1999-2023 time period. Compared to inflation for all items in 1999 (2.19%), 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
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Buying power of $2,500,000.00 since 1999

Below are calculations of equivalent buying power in Minneapolis/St. Paul, over time, for $2,500,000 beginning in 1999. Each of the amounts below is equivalent in terms of what it could buy at the time:

YearUSD ValueInflation Rate
1999$2,500,000.003.16%
2000$2,604,102.884.16%
2001$2,702,082.063.76%
2002$2,749,540.721.76%
2003$2,796,999.391.73%
2004$2,876,607.472.85%
2005$2,956,215.552.77%
2006$3,003,674.221.61%
2007$3,080,939.992.57%
2008$3,198,989.593.83%
2009$3,182,624.00-0.51%
2010$3,241,396.201.85%
2011$3,357,914.883.59%
2012$3,436,298.222.33%
2013$3,502,924.071.94%
2014$3,551,944.271.40%
2015$3,529,807.10-0.62%
2016$3,584,583.591.55%
2017$3,662,568.892.18%
2018$3,750,290.882.40%
2019$3,828,934.482.10%
2020$3,873,193.511.16%
2021$4,060,685.854.84%
2022$4,363,257.817.45%
2023$4,481,322.722.71%*

* 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 1999 * 1999 USD value = 2023 USD value

Then plug in historical CPI values from above. The CPI for Minneapolis-St Paul, Minnesota was 163.300 in the year 1999 and 292.720 in 2023:

292.720 / 163.300 * $2,500,000 = $4,481,322.72

Therefore, according to U.S. Bureau of Labor Statistics, $2,500,000 in 1999 has the same "purchasing power" as $4,481,322.72 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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