According to the U.S. Bureau of Labor Statistics, prices in Minneapolis-St Paul, Minnesota are 103.84% higher in 2023 versus 1994 (a $519,220.06 difference in value).
Between 1994 and 2023: Minneapolis/St. Paul experienced an average inflation rate of 2.49% per year. This rate of change indicates significant inflation. In other words, $500,000 in Minneapolis/St. Paul in the year 1994 would cost $1,019,220.06 in 2023 for an equivalent purchase. Compared to the overall inflation rate of 2.52% during this same period, inflation in Minneapolis/St. Paul was lower.
In the year 1994: Pricing changed by 3.16%, which is above the average yearly change in Minneapolis/St. Paul during the 1994-2023 time period. Compared to inflation for all items in 1994 (2.60%), inflation in Minneapolis/St. Paul was higher.
Below are calculations of equivalent buying power in Minneapolis/St. Paul, over time, for $500,000 beginning in 1994. Each of the amounts below is equivalent in terms of what it could buy at the time:
| Year | USD Value | Inflation Rate |
|---|---|---|
| 1994 | $500,000.00 | 3.16% |
| 1995 | $511,838.44 | 2.37% |
| 1996 | $528,899.72 | 3.33% |
| 1997 | $541,086.35 | 2.30% |
| 1998 | $551,183.84 | 1.87% |
| 1999 | $568,593.31 | 3.16% |
| 2000 | $592,270.19 | 4.16% |
| 2001 | $614,554.32 | 3.76% |
| 2002 | $625,348.19 | 1.76% |
| 2003 | $636,142.06 | 1.73% |
| 2004 | $654,247.91 | 2.85% |
| 2005 | $672,353.76 | 2.77% |
| 2006 | $683,147.63 | 1.61% |
| 2007 | $700,720.75 | 2.57% |
| 2008 | $727,569.64 | 3.83% |
| 2009 | $723,847.49 | -0.51% |
| 2010 | $737,214.48 | 1.85% |
| 2011 | $763,715.18 | 3.59% |
| 2012 | $781,542.48 | 2.33% |
| 2013 | $796,695.68 | 1.94% |
| 2014 | $807,844.71 | 1.40% |
| 2015 | $802,809.89 | -0.62% |
| 2016 | $815,268.11 | 1.55% |
| 2017 | $833,004.87 | 2.18% |
| 2018 | $852,956.13 | 2.40% |
| 2019 | $870,842.62 | 2.10% |
| 2020 | $880,908.77 | 1.16% |
| 2021 | $923,551.53 | 4.84% |
| 2022 | $992,367.69 | 7.45% |
| 2023 | $1,019,220.06 | 2.71%* |
* 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:
| 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 |
| 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 |