Minneapolis/St. Paul, Minnesota prices: $5 in 1986 $13.50 in 2023

Inflation in Minnesota

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Prices in Minneapolis/st. Paul, 1986-2023 ($5)

According to the U.S. Bureau of Labor Statistics, prices in Minneapolis-St Paul, Minnesota are 170.04% higher in 2023 versus 1986 (a $8.50 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, $5 in Minneapolis/St. Paul in the year 1986 would cost $13.50 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 $5.00 since 1986

Below are calculations of equivalent buying power in Minneapolis/St. Paul, over time, for $5 beginning in 1986. Each of the amounts below is equivalent in terms of what it could buy at the time:

YearUSD ValueInflation Rate
1986$5.001.31%
1987$5.152.95%
1988$5.415.02%
1989$5.634.10%
1990$5.864.10%
1991$6.012.68%
1992$6.233.53%
1993$6.423.11%
1994$6.623.16%
1995$6.782.37%
1996$7.013.33%
1997$7.172.30%
1998$7.301.87%
1999$7.533.16%
2000$7.854.16%
2001$8.143.76%
2002$8.281.76%
2003$8.431.73%
2004$8.672.85%
2005$8.912.77%
2006$9.051.61%
2007$9.282.57%
2008$9.643.83%
2009$9.59-0.51%
2010$9.771.85%
2011$10.123.59%
2012$10.352.33%
2013$10.551.94%
2014$10.701.40%
2015$10.64-0.62%
2016$10.801.55%
2017$11.042.18%
2018$11.302.40%
2019$11.542.10%
2020$11.671.16%
2021$12.234.84%
2022$13.157.45%
2023$13.502.71%*

* 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 * $5 = $13.50

Therefore, according to U.S. Bureau of Labor Statistics, $5 in 1986 has the same "purchasing power" as $13.50 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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