Minneapolis/St. Paul, Minnesota prices: $11,651 in 1985 $31,873.65 in 2023

Inflation in Minnesota

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Prices in Minneapolis/st. Paul, 1985-2023 ($11,651)

According to the U.S. Bureau of Labor Statistics, prices in Minneapolis-St Paul, Minnesota are 173.57% higher in 2023 versus 1985 (a $20,222.65 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, $11,651 in Minneapolis/St. Paul in the year 1985 would cost $31,873.65 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
Hospital services · Milk · New cars · St Louis, Missouri · More

Buying power of $11,651.00 since 1985

Below are calculations of equivalent buying power in Minneapolis/St. Paul, over time, for $11,651 beginning in 1985. Each of the amounts below is equivalent in terms of what it could buy at the time:

YearUSD ValueInflation Rate
1985$11,651.003.78%
1986$11,803.441.31%
1987$12,151.882.95%
1988$12,761.665.02%
1989$13,284.324.10%
1990$13,828.764.10%
1991$14,198.982.68%
1992$14,699.863.53%
1993$15,157.193.11%
1994$15,636.303.16%
1995$16,006.512.37%
1996$16,540.063.33%
1997$16,921.172.30%
1998$17,236.951.87%
1999$17,781.393.16%
2000$18,521.824.16%
2001$19,218.713.76%
2002$19,556.261.76%
2003$19,893.811.73%
2004$20,460.032.85%
2005$21,026.242.77%
2006$21,363.801.61%
2007$21,913.352.57%
2008$22,752.993.83%
2009$22,636.59-0.51%
2010$23,054.611.85%
2011$23,883.353.59%
2012$24,440.862.33%
2013$24,914.741.94%
2014$25,263.401.40%
2015$25,105.95-0.62%
2016$25,495.551.55%
2017$26,050.222.18%
2018$26,674.152.40%
2019$27,233.502.10%
2020$27,548.301.16%
2021$28,881.854.84%
2022$31,033.917.45%
2023$31,873.652.71%*

* 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 * $11,651 = $31,873.65

Therefore, according to U.S. Bureau of Labor Statistics, $11,651 in 1985 has the same "purchasing power" as $31,873.65 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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