Minneapolis/St. Paul, Minnesota prices: $31 in 1986 $85.75 in 2024

Inflation in Minnesota

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Prices in Minneapolis/st. Paul, 1986-2024 ($31)

According to the U.S. Bureau of Labor Statistics, prices in Minneapolis-St Paul, Minnesota are 176.62% higher in 2024 versus 1986 (a $54.75 difference in value).

Between 1986 and 2024: Minneapolis/St. Paul experienced an average inflation rate of 2.71% per year. This rate of change indicates significant inflation. In other words, $31 in Minneapolis/St. Paul in the year 1986 would cost $85.75 in 2024 for an equivalent purchase. Compared to the overall inflation rate of 2.81% 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 1986-2024 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 $31.00 since 1986

Below are calculations of equivalent buying power in Minneapolis/St. Paul, over time, for $31 beginning in 1986. Each of the amounts below is equivalent in terms of what it could buy at the time:

YearUSD ValueInflation Rate
1986$31.001.31%
1987$31.922.95%
1988$33.525.02%
1989$34.894.10%
1990$36.324.10%
1991$37.292.68%
1992$38.613.53%
1993$39.813.11%
1994$41.073.16%
1995$42.042.37%
1996$43.443.33%
1997$44.442.30%
1998$45.271.87%
1999$46.703.16%
2000$48.644.16%
2001$50.483.76%
2002$51.361.76%
2003$52.251.73%
2004$53.742.85%
2005$55.222.77%
2006$56.111.61%
2007$57.552.57%
2008$59.763.83%
2009$59.45-0.51%
2010$60.551.85%
2011$62.733.59%
2012$64.192.33%
2013$65.431.94%
2014$66.351.40%
2015$65.94-0.62%
2016$66.961.55%
2017$68.422.18%
2018$70.062.40%
2019$71.522.10%
2020$72.351.16%
2021$75.854.84%
2022$81.517.45%
2023$83.712.71%
2024$85.752.44%*

* 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 1986 * 1986 USD value = 2024 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 299.852 in 2024:

299.852 / 108.400 * $31 = $85.75

Therefore, according to U.S. Bureau of Labor Statistics, $31 in 1986 has the same "purchasing power" as $85.75 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.

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