Minneapolis/St. Paul, Minnesota prices: $1,000 in 1986 $2,700.37 in 2023

Inflation in Minnesota

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Prices in Minneapolis/st. Paul, 1986-2023 ($1,000)

According to the U.S. Bureau of Labor Statistics, prices in Minneapolis-St Paul, Minnesota are 170.04% higher in 2023 versus 1986 (a $1,700.37 difference in value).

Between 1986 and 2023: Minneapolis/St. Paul experienced an average inflation rate of 2.72% per year. This rate of change indicates significant inflation. In other words, $1,000 in Minneapolis/St. Paul in the year 1986 would cost $2,700.37 in 2023 for an equivalent purchase. Compared to the overall inflation rate of 2.80% during this same period, inflation in Minneapolis/St. Paul was lower.

In the year 1986: Pricing changed by 1.31%, which is below the average yearly change in Minneapolis/St. Paul during the 1986-2023 time period. Compared to inflation for all items in 1986 (1.90%), inflation in Minneapolis/St. Paul was lower.

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%).

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Buying power of $1,000.00 since 1986

Below are calculations of equivalent buying power in Minneapolis/St. Paul, over time, for $1,000 beginning in 1986. Each of the amounts below is equivalent in terms of what it could buy at the time:

YearUSD ValueInflation Rate
1986$1,000.001.31%
1987$1,029.522.95%
1988$1,081.185.02%
1989$1,125.464.10%
1990$1,171.594.10%
1991$1,202.952.68%
1992$1,245.393.53%
1993$1,284.133.11%
1994$1,324.723.16%
1995$1,356.092.37%
1996$1,401.293.33%
1997$1,433.582.30%
1998$1,460.331.87%
1999$1,506.463.16%
2000$1,569.194.16%
2001$1,628.233.76%
2002$1,656.831.76%
2003$1,685.421.73%
2004$1,733.392.85%
2005$1,781.372.77%
2006$1,809.961.61%
2007$1,856.522.57%
2008$1,927.663.83%
2009$1,917.80-0.51%
2010$1,953.211.85%
2011$2,023.423.59%
2012$2,070.652.33%
2013$2,110.801.94%
2014$2,140.341.40%
2015$2,127.00-0.62%
2016$2,160.011.55%
2017$2,207.002.18%
2018$2,259.862.40%
2019$2,307.252.10%
2020$2,333.921.16%
2021$2,446.904.84%
2022$2,629.237.45%
2023$2,700.372.71%*

* 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 1986 * 1986 USD value = 2023 USD value

Then plug in historical CPI values from above. The CPI for Minneapolis-St Paul, Minnesota was 108.400 in the year 1986 and 292.720 in 2023:

292.720 / 108.400 * $1,000 = $2,700.37

Therefore, according to U.S. Bureau of Labor Statistics, $1,000 in 1986 has the same "purchasing power" as $2,700.37 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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