Minneapolis/St. Paul, Minnesota prices: $20 in 1985 $54.71 in 2023

Inflation in Minnesota

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Prices in Minneapolis/st. Paul, 1985-2023 ($20)

According to the U.S. Bureau of Labor Statistics, prices in Minneapolis-St Paul, Minnesota are 173.57% higher in 2023 versus 1985 (a $34.71 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, $20 in Minneapolis/St. Paul in the year 1985 would cost $54.71 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
Minneapolis-St Paul, Minnesota · Houston, Texas · Juices and nonalcoholic drinks · Frankfurters · More

Buying power of $20.00 since 1985

Below are calculations of equivalent buying power in Minneapolis/St. Paul, over time, for $20 beginning in 1985. Each of the amounts below is equivalent in terms of what it could buy at the time:

YearUSD ValueInflation Rate
1985$20.003.78%
1986$20.261.31%
1987$20.862.95%
1988$21.915.02%
1989$22.804.10%
1990$23.744.10%
1991$24.372.68%
1992$25.233.53%
1993$26.023.11%
1994$26.843.16%
1995$27.482.37%
1996$28.393.33%
1997$29.052.30%
1998$29.591.87%
1999$30.523.16%
2000$31.794.16%
2001$32.993.76%
2002$33.571.76%
2003$34.151.73%
2004$35.122.85%
2005$36.092.77%
2006$36.671.61%
2007$37.622.57%
2008$39.063.83%
2009$38.86-0.51%
2010$39.581.85%
2011$41.003.59%
2012$41.952.33%
2013$42.771.94%
2014$43.371.40%
2015$43.10-0.62%
2016$43.771.55%
2017$44.722.18%
2018$45.792.40%
2019$46.752.10%
2020$47.291.16%
2021$49.584.84%
2022$53.277.45%
2023$54.712.71%*

* 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 * $20 = $54.71

Therefore, according to U.S. Bureau of Labor Statistics, $20 in 1985 has the same "purchasing power" as $54.71 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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