According to the U.S. Bureau of Labor Statistics, prices in Minneapolis-St Paul, Minnesota are 155.85% higher in 2024 versus 1988 (a $87,273.99 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, $56,000 in Minneapolis/St. Paul in the year 1988 would cost $143,273.99 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 $56,000 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 | $56,000.00 | 5.02% |
| 1989 | $58,293.52 | 4.10% |
| 1990 | $60,682.59 | 4.10% |
| 1991 | $62,307.17 | 2.68% |
| 1992 | $64,505.12 | 3.53% |
| 1993 | $66,511.95 | 3.11% |
| 1994 | $68,614.33 | 3.16% |
| 1995 | $70,238.91 | 2.37% |
| 1996 | $72,580.20 | 3.33% |
| 1997 | $74,252.56 | 2.30% |
| 1998 | $75,638.23 | 1.87% |
| 1999 | $78,027.30 | 3.16% |
| 2000 | $81,276.45 | 4.16% |
| 2001 | $84,334.47 | 3.76% |
| 2002 | $85,815.70 | 1.76% |
| 2003 | $87,296.93 | 1.73% |
| 2004 | $89,781.57 | 2.85% |
| 2005 | $92,266.21 | 2.77% |
| 2006 | $93,747.44 | 1.61% |
| 2007 | $96,158.98 | 2.57% |
| 2008 | $99,843.41 | 3.83% |
| 2009 | $99,332.63 | -0.51% |
| 2010 | $101,166.96 | 1.85% |
| 2011 | $104,803.62 | 3.59% |
| 2012 | $107,250.03 | 2.33% |
| 2013 | $109,329.49 | 1.94% |
| 2014 | $110,859.45 | 1.40% |
| 2015 | $110,168.53 | -0.62% |
| 2016 | $111,878.16 | 1.55% |
| 2017 | $114,312.15 | 2.18% |
| 2018 | $117,050.03 | 2.40% |
| 2019 | $119,504.57 | 2.10% |
| 2020 | $120,885.94 | 1.16% |
| 2021 | $126,737.75 | 4.84% |
| 2022 | $136,181.30 | 7.45% |
| 2023 | $139,866.21 | 2.71% |
| 2024 | $143,273.99 | 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 |