Minneapolis/St. Paul, Minnesota prices: $14.48 in 1991 $32.50 in 2023

Inflation in Minnesota

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Prices in Minneapolis/st. Paul, 1991-2023 ($14.48)

According to the U.S. Bureau of Labor Statistics, prices in Minneapolis-St Paul, Minnesota are 124.48% higher in 2023 versus 1991 (a $18.02 difference in value).

Between 1991 and 2023: Minneapolis/St. Paul experienced an average inflation rate of 2.56% per year. This rate of change indicates significant inflation. In other words, $14.48 in Minneapolis/St. Paul in the year 1991 would cost $32.50 in 2023 for an equivalent purchase. Compared to the overall inflation rate of 2.55% during this same period, inflation in Minneapolis/St. Paul was higher.

In the year 1991: Pricing changed by 2.68%, which is above the average yearly change in Minneapolis/St. Paul during the 1991-2023 time period. Compared to inflation for all items in 1991 (4.23%), 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
Bananas · Jewelry · Juices and nonalcoholic drinks · Alcoholic beverages · More

Buying power of $14.48 since 1991

Below are calculations of equivalent buying power in Minneapolis/St. Paul, over time, for $14.48 beginning in 1991. Each of the amounts below is equivalent in terms of what it could buy at the time:

YearUSD ValueInflation Rate
1991$14.482.68%
1992$14.993.53%
1993$15.463.11%
1994$15.953.16%
1995$16.322.37%
1996$16.873.33%
1997$17.262.30%
1998$17.581.87%
1999$18.133.16%
2000$18.894.16%
2001$19.603.76%
2002$19.941.76%
2003$20.291.73%
2004$20.862.85%
2005$21.442.77%
2006$21.791.61%
2007$22.352.57%
2008$23.203.83%
2009$23.08-0.51%
2010$23.511.85%
2011$24.363.59%
2012$24.922.33%
2013$25.411.94%
2014$25.761.40%
2015$25.60-0.62%
2016$26.001.55%
2017$26.572.18%
2018$27.202.40%
2019$27.772.10%
2020$28.091.16%
2021$29.454.84%
2022$31.657.45%
2023$32.502.71%*

* 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 1991 * 1991 USD value = 2023 USD value

Then plug in historical CPI values from above. The CPI for Minneapolis-St Paul, Minnesota was 130.400 in the year 1991 and 292.720 in 2023:

292.720 / 130.400 * $14.48 = $32.50

Therefore, according to U.S. Bureau of Labor Statistics, $14.48 in 1991 has the same "purchasing power" as $32.50 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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