Minneapolis/St. Paul, Minnesota prices: $32,000,000 in 1985 $87,542,429.91 in 2023

Inflation in Minnesota

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Prices in Minneapolis/st. Paul, 1985-2023 ($32,000,000)

According to the U.S. Bureau of Labor Statistics, prices in Minneapolis-St Paul, Minnesota are 173.57% higher in 2023 versus 1985 (a $55,542,429.91 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, $32,000,000 in Minneapolis/St. Paul in the year 1985 would cost $87,542,429.91 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
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Buying power of $32,000,000.00 since 1985

Below are calculations of equivalent buying power in Minneapolis/St. Paul, over time, for $32,000,000 beginning in 1985. Each of the amounts below is equivalent in terms of what it could buy at the time:

YearUSD ValueInflation Rate
1985$32,000,000.003.78%
1986$32,418,691.591.31%
1987$33,375,700.932.95%
1988$35,050,467.295.02%
1989$36,485,981.314.10%
1990$37,981,308.414.10%
1991$38,998,130.842.68%
1992$40,373,831.783.53%
1993$41,629,906.543.11%
1994$42,945,794.393.16%
1995$43,962,616.822.37%
1996$45,428,037.383.33%
1997$46,474,766.362.30%
1998$47,342,056.071.87%
1999$48,837,383.183.16%
2000$50,871,028.044.16%
2001$52,785,046.733.76%
2002$53,712,149.531.76%
2003$54,639,252.341.73%
2004$56,194,392.522.85%
2005$57,749,532.712.77%
2006$58,676,635.511.61%
2007$60,186,018.692.57%
2008$62,492,112.153.83%
2009$62,172,411.21-0.51%
2010$63,320,523.361.85%
2011$65,596,710.283.59%
2012$67,127,925.232.33%
2013$68,429,457.941.94%
2014$69,387,065.421.40%
2015$68,954,616.82-0.62%
2016$70,024,672.901.55%
2017$71,548,112.152.18%
2018$73,261,757.012.40%
2019$74,798,056.072.10%
2020$75,662,654.211.16%
2021$79,325,308.414.84%
2022$85,236,037.387.45%
2023$87,542,429.912.71%*

* 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 * $32,000,000 = $87,542,429.91

Therefore, according to U.S. Bureau of Labor Statistics, $32,000,000 in 1985 has the same "purchasing power" as $87,542,429.91 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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