Minneapolis/St. Paul, Minnesota prices: $10 in 1987 $26.23 in 2023

Inflation in Minnesota

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Prices in Minneapolis/st. Paul, 1987-2023 ($10)

According to the U.S. Bureau of Labor Statistics, prices in Minneapolis-St Paul, Minnesota are 162.29% higher in 2023 versus 1987 (a $16.23 difference in value).

Between 1987 and 2023: Minneapolis/St. Paul experienced an average inflation rate of 2.71% per year. This rate of change indicates significant inflation. In other words, $10 in Minneapolis/St. Paul in the year 1987 would cost $26.23 in 2023 for an equivalent purchase. Compared to the overall inflation rate of 2.78% during this same period, inflation in Minneapolis/St. Paul was lower.

In the year 1987: Pricing changed by 2.95%, which is above the average yearly change in Minneapolis/St. Paul during the 1987-2023 time period. Compared to inflation for all items in 1987 (3.66%), 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 $10.00 since 1987

Below are calculations of equivalent buying power in Minneapolis/St. Paul, over time, for $10 beginning in 1987. Each of the amounts below is equivalent in terms of what it could buy at the time:

YearUSD ValueInflation Rate
1987$10.002.95%
1988$10.505.02%
1989$10.934.10%
1990$11.384.10%
1991$11.682.68%
1992$12.103.53%
1993$12.473.11%
1994$12.873.16%
1995$13.172.37%
1996$13.613.33%
1997$13.922.30%
1998$14.181.87%
1999$14.633.16%
2000$15.244.16%
2001$15.823.76%
2002$16.091.76%
2003$16.371.73%
2004$16.842.85%
2005$17.302.77%
2006$17.581.61%
2007$18.032.57%
2008$18.723.83%
2009$18.63-0.51%
2010$18.971.85%
2011$19.653.59%
2012$20.112.33%
2013$20.501.94%
2014$20.791.40%
2015$20.66-0.62%
2016$20.981.55%
2017$21.442.18%
2018$21.952.40%
2019$22.412.10%
2020$22.671.16%
2021$23.774.84%
2022$25.547.45%
2023$26.232.71%*

* 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 1987 * 1987 USD value = 2023 USD value

Then plug in historical CPI values from above. The CPI for Minneapolis-St Paul, Minnesota was 111.600 in the year 1987 and 292.720 in 2023:

292.720 / 111.600 * $10 = $26.23

Therefore, according to U.S. Bureau of Labor Statistics, $10 in 1987 has the same "purchasing power" as $26.23 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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