Minneapolis/St. Paul, Minnesota prices: $13.98 in 1985 $39.18 in 2024

Inflation in Minnesota

$

Prices in Minneapolis/st. Paul, 1985-2024 ($13.98)

According to the U.S. Bureau of Labor Statistics, prices in Minneapolis-St Paul, Minnesota are 180.24% higher in 2024 versus 1985 (a $25.20 difference in value).

Between 1985 and 2024: Minneapolis/St. Paul experienced an average inflation rate of 2.68% per year. This rate of change indicates significant inflation. In other words, $13.98 in Minneapolis/St. Paul in the year 1985 would cost $39.18 in 2024 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 1985-2024 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
Airline fares · Minneapolis-St Paul, Minnesota · Legal services · Juices and nonalcoholic drinks · More

Buying power of $13.98 since 1985

Below are calculations of equivalent buying power in Minneapolis/St. Paul, over time, for $13.98 beginning in 1985. Each of the amounts below is equivalent in terms of what it could buy at the time:

YearUSD ValueInflation Rate
1985$13.983.78%
1986$14.161.31%
1987$14.582.95%
1988$15.315.02%
1989$15.944.10%
1990$16.594.10%
1991$17.042.68%
1992$17.643.53%
1993$18.193.11%
1994$18.763.16%
1995$19.212.37%
1996$19.853.33%
1997$20.302.30%
1998$20.681.87%
1999$21.343.16%
2000$22.224.16%
2001$23.063.76%
2002$23.471.76%
2003$23.871.73%
2004$24.552.85%
2005$25.232.77%
2006$25.631.61%
2007$26.292.57%
2008$27.303.83%
2009$27.16-0.51%
2010$27.661.85%
2011$28.663.59%
2012$29.332.33%
2013$29.901.94%
2014$30.311.40%
2015$30.12-0.62%
2016$30.591.55%
2017$31.262.18%
2018$32.012.40%
2019$32.682.10%
2020$33.061.16%
2021$34.664.84%
2022$37.247.45%
2023$38.252.71%
2024$39.182.44%*

* 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:

Year19841985198619871988198919901991199219931994199519961997199819992000200120022003200420052006200720082009201020112012201320142015201620172018201920202021202220232024
CPI103.100107.000108.400111.600117.200122.000127.000130.400135.000139.200143.600147.000151.900155.400158.300163.300170.100176.500179.600182.700187.900193.100196.200201.247208.958207.889211.728219.339224.459228.811232.013230.567234.145239.239244.969250.106252.997265.244285.008292.720299.852

Adjust Minneapolis/St. Paul prices for inflation

Start with the inflation rate formula:

CPI in 2024 / CPI in 1985 * 1985 USD value = 2024 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 299.852 in 2024:

299.852 / 107.000 * $13.98 = $39.18

Therefore, according to U.S. Bureau of Labor Statistics, $13.98 in 1985 has the same "purchasing power" as $39.18 in 2024 (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.

» Read more about inflation and investment.