Minneapolis/St. Paul, Minnesota prices: $56 in 1986 $154.91 in 2024

Inflation in Minnesota

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Prices in Minneapolis/st. Paul, 1986-2024 ($56)

According to the U.S. Bureau of Labor Statistics, prices in Minneapolis-St Paul, Minnesota are 176.62% higher in 2024 versus 1986 (a $98.91 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, $56 in Minneapolis/St. Paul in the year 1986 would cost $154.91 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%).

View price changes for other categories
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Buying power of $56.00 since 1986

Below are calculations of equivalent buying power in Minneapolis/St. Paul, over time, for $56 beginning in 1986. Each of the amounts below is equivalent in terms of what it could buy at the time:

YearUSD ValueInflation Rate
1986$56.001.31%
1987$57.652.95%
1988$60.555.02%
1989$63.034.10%
1990$65.614.10%
1991$67.372.68%
1992$69.743.53%
1993$71.913.11%
1994$74.183.16%
1995$75.942.37%
1996$78.473.33%
1997$80.282.30%
1998$81.781.87%
1999$84.363.16%
2000$87.874.16%
2001$91.183.76%
2002$92.781.76%
2003$94.381.73%
2004$97.072.85%
2005$99.762.77%
2006$101.361.61%
2007$103.972.57%
2008$107.953.83%
2009$107.40-0.51%
2010$109.381.85%
2011$113.313.59%
2012$115.962.33%
2013$118.201.94%
2014$119.861.40%
2015$119.11-0.62%
2016$120.961.55%
2017$123.592.18%
2018$126.552.40%
2019$129.212.10%
2020$130.701.16%
2021$137.034.84%
2022$147.247.45%
2023$151.222.71%
2024$154.912.44%*

* 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 * $56 = $154.91

Therefore, according to U.S. Bureau of Labor Statistics, $56 in 1986 has the same "purchasing power" as $154.91 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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