According to the U.S. Bureau of Labor Statistics, prices in Minneapolis-St Paul, Minnesota are 155.85% higher in 2024 versus 1988 (a $35,844.68 difference in value).
Between 1988 and 2024: Minneapolis/St. Paul experienced an average inflation rate of 2.64% per year. This rate of change indicates significant inflation. In other words, $23,000 in Minneapolis/St. Paul in the year 1988 would cost $58,844.68 in 2024 for an equivalent purchase. Compared to the overall inflation rate of 2.75% during this same period, inflation in Minneapolis/St. Paul was lower.
In the year 1988: Pricing changed by 5.02%, which is above the average yearly change in Minneapolis/St. Paul during the 1988-2024 time period. Compared to inflation for all items in 1988 (4.08%), inflation in Minneapolis/St. Paul was higher.
Below are calculations of equivalent buying power in Minneapolis/St. Paul, over time, for $23,000 beginning in 1988. Each of the amounts below is equivalent in terms of what it could buy at the time:
| Year | USD Value | Inflation Rate |
|---|---|---|
| 1988 | $23,000.00 | 5.02% |
| 1989 | $23,941.98 | 4.10% |
| 1990 | $24,923.21 | 4.10% |
| 1991 | $25,590.44 | 2.68% |
| 1992 | $26,493.17 | 3.53% |
| 1993 | $27,317.41 | 3.11% |
| 1994 | $28,180.89 | 3.16% |
| 1995 | $28,848.12 | 2.37% |
| 1996 | $29,809.73 | 3.33% |
| 1997 | $30,496.59 | 2.30% |
| 1998 | $31,065.70 | 1.87% |
| 1999 | $32,046.93 | 3.16% |
| 2000 | $33,381.40 | 4.16% |
| 2001 | $34,637.37 | 3.76% |
| 2002 | $35,245.73 | 1.76% |
| 2003 | $35,854.10 | 1.73% |
| 2004 | $36,874.57 | 2.85% |
| 2005 | $37,895.05 | 2.77% |
| 2006 | $38,503.41 | 1.61% |
| 2007 | $39,493.87 | 2.57% |
| 2008 | $41,007.12 | 3.83% |
| 2009 | $40,797.33 | -0.51% |
| 2010 | $41,550.72 | 1.85% |
| 2011 | $43,044.34 | 3.59% |
| 2012 | $44,049.12 | 2.33% |
| 2013 | $44,903.18 | 1.94% |
| 2014 | $45,531.56 | 1.40% |
| 2015 | $45,247.79 | -0.62% |
| 2016 | $45,949.96 | 1.55% |
| 2017 | $46,949.63 | 2.18% |
| 2018 | $48,074.12 | 2.40% |
| 2019 | $49,082.24 | 2.10% |
| 2020 | $49,649.58 | 1.16% |
| 2021 | $52,053.00 | 4.84% |
| 2022 | $55,931.60 | 7.45% |
| 2023 | $57,445.05 | 2.71% |
| 2024 | $58,844.68 | 2.44%* |
* 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:
| Year | 1984 | 1985 | 1986 | 1987 | 1988 | 1989 | 1990 | 1991 | 1992 | 1993 | 1994 | 1995 | 1996 | 1997 | 1998 | 1999 | 2000 | 2001 | 2002 | 2003 | 2004 | 2005 | 2006 | 2007 | 2008 | 2009 | 2010 | 2011 | 2012 | 2013 | 2014 | 2015 | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 |
| CPI | 103.100 | 107.000 | 108.400 | 111.600 | 117.200 | 122.000 | 127.000 | 130.400 | 135.000 | 139.200 | 143.600 | 147.000 | 151.900 | 155.400 | 158.300 | 163.300 | 170.100 | 176.500 | 179.600 | 182.700 | 187.900 | 193.100 | 196.200 | 201.247 | 208.958 | 207.889 | 211.728 | 219.339 | 224.459 | 228.811 | 232.013 | 230.567 | 234.145 | 239.239 | 244.969 | 250.106 | 252.997 | 265.244 | 285.008 | 292.720 | 299.852 |