Minneapolis/St. Paul, Minnesota prices: $31,302 in 1995 $62,331.44 in 2023

Inflation in Minnesota

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Prices in Minneapolis/st. Paul, 1995-2023 ($31,302)

According to the U.S. Bureau of Labor Statistics, prices in Minneapolis-St Paul, Minnesota are 99.13% higher in 2023 versus 1995 (a $31,029.44 difference in value).

Between 1995 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, $31,302 in Minneapolis/St. Paul in the year 1995 would cost $62,331.44 in 2023 for an equivalent purchase. Compared to the overall inflation rate of 2.51% during this same period, inflation in Minneapolis/St. Paul was lower.

In the year 1995: Pricing changed by 2.37%, which is below the average yearly change in Minneapolis/St. Paul during the 1995-2023 time period. Compared to inflation for all items in 1995 (2.81%), 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 $31,302.00 since 1995

Below are calculations of equivalent buying power in Minneapolis/St. Paul, over time, for $31,302 beginning in 1995. Each of the amounts below is equivalent in terms of what it could buy at the time:

YearUSD ValueInflation Rate
1995$31,302.002.37%
1996$32,345.403.33%
1997$33,090.692.30%
1998$33,708.211.87%
1999$34,772.903.16%
2000$36,220.894.16%
2001$37,583.693.76%
2002$38,243.801.76%
2003$38,903.911.73%
2004$40,011.202.85%
2005$41,118.482.77%
2006$41,778.591.61%
2007$42,853.292.57%
2008$44,495.263.83%
2009$44,267.63-0.51%
2010$45,085.101.85%
2011$46,705.783.59%
2012$47,796.022.33%
2013$48,722.731.94%
2014$49,404.561.40%
2015$49,096.65-0.62%
2016$49,858.551.55%
2017$50,943.262.18%
2018$52,163.402.40%
2019$53,257.272.10%
2020$53,872.871.16%
2021$56,480.734.84%
2022$60,689.257.45%
2023$62,331.442.71%*

* 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 1995 * 1995 USD value = 2023 USD value

Then plug in historical CPI values from above. The CPI for Minneapolis-St Paul, Minnesota was 147.000 in the year 1995 and 292.720 in 2023:

292.720 / 147.000 * $31,302 = $62,331.44

Therefore, according to U.S. Bureau of Labor Statistics, $31,302 in 1995 has the same "purchasing power" as $62,331.44 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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