Minneapolis/St. Paul, Minnesota prices: $3.18 in 1986 $8.59 in 2023

Inflation in Minnesota

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Prices in Minneapolis/st. Paul, 1986-2023 ($3.18)

According to the U.S. Bureau of Labor Statistics, prices in Minneapolis-St Paul, Minnesota are 170.04% higher in 2023 versus 1986 (a $5.41 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, $3.18 in Minneapolis/St. Paul in the year 1986 would cost $8.59 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%).

View price changes for other categories
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Buying power of $3.18 since 1986

Below are calculations of equivalent buying power in Minneapolis/St. Paul, over time, for $3.18 beginning in 1986. Each of the amounts below is equivalent in terms of what it could buy at the time:

YearUSD ValueInflation Rate
1986$3.181.31%
1987$3.272.95%
1988$3.445.02%
1989$3.584.10%
1990$3.734.10%
1991$3.832.68%
1992$3.963.53%
1993$4.083.11%
1994$4.213.16%
1995$4.312.37%
1996$4.463.33%
1997$4.562.30%
1998$4.641.87%
1999$4.793.16%
2000$4.994.16%
2001$5.183.76%
2002$5.271.76%
2003$5.361.73%
2004$5.512.85%
2005$5.662.77%
2006$5.761.61%
2007$5.902.57%
2008$6.133.83%
2009$6.10-0.51%
2010$6.211.85%
2011$6.433.59%
2012$6.582.33%
2013$6.711.94%
2014$6.811.40%
2015$6.76-0.62%
2016$6.871.55%
2017$7.022.18%
2018$7.192.40%
2019$7.342.10%
2020$7.421.16%
2021$7.784.84%
2022$8.367.45%
2023$8.592.71%*

* 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 * $3.18 = $8.59

Therefore, according to U.S. Bureau of Labor Statistics, $3.18 in 1986 has the same "purchasing power" as $8.59 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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