Minneapolis/St. Paul, Minnesota prices: $7,145 in 1995 $14,227.79 in 2023

Inflation in Minnesota

$

Prices in Minneapolis/st. Paul, 1995-2023 ($7,145)

According to the U.S. Bureau of Labor Statistics, prices in Minneapolis-St Paul, Minnesota are 99.13% higher in 2023 versus 1995 (a $7,082.79 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, $7,145 in Minneapolis/St. Paul in the year 1995 would cost $14,227.79 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
Alcoholic beverages · Detroit, Michigan · Minneapolis-St Paul, Minnesota · Bananas · More

Buying power of $7,145.00 since 1995

Below are calculations of equivalent buying power in Minneapolis/St. Paul, over time, for $7,145 beginning in 1995. Each of the amounts below is equivalent in terms of what it could buy at the time:

YearUSD ValueInflation Rate
1995$7,145.002.37%
1996$7,383.173.33%
1997$7,553.292.30%
1998$7,694.241.87%
1999$7,937.273.16%
2000$8,267.794.16%
2001$8,578.863.76%
2002$8,729.541.76%
2003$8,880.211.73%
2004$9,132.962.85%
2005$9,385.712.77%
2006$9,536.391.61%
2007$9,781.702.57%
2008$10,156.503.83%
2009$10,104.54-0.51%
2010$10,291.131.85%
2011$10,661.073.59%
2012$10,909.932.33%
2013$11,121.461.94%
2014$11,277.091.40%
2015$11,206.81-0.62%
2016$11,380.721.55%
2017$11,628.322.18%
2018$11,906.832.40%
2019$12,156.512.10%
2020$12,297.031.16%
2021$12,892.304.84%
2022$13,852.947.45%
2023$14,227.792.71%*

* 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 * $7,145 = $14,227.79

Therefore, according to U.S. Bureau of Labor Statistics, $7,145 in 1995 has the same "purchasing power" as $14,227.79 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.

» Read more about inflation and investment.