Minneapolis/St. Paul, Minnesota prices: $83 in 1996 $159.95 in 2023

Inflation in Minnesota

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Prices in Minneapolis/st. Paul, 1996-2023 ($83)

According to the U.S. Bureau of Labor Statistics, prices in Minneapolis-St Paul, Minnesota are 92.71% higher in 2023 versus 1996 (a $76.95 difference in value).

Between 1996 and 2023: Minneapolis/St. Paul experienced an average inflation rate of 2.46% per year. This rate of change indicates significant inflation. In other words, $83 in Minneapolis/St. Paul in the year 1996 would cost $159.95 in 2023 for an equivalent purchase. Compared to the overall inflation rate of 2.49% during this same period, inflation in Minneapolis/St. Paul was lower.

In the year 1996: Pricing changed by 3.33%, which is above the average yearly change in Minneapolis/St. Paul during the 1996-2023 time period. Compared to inflation for all items in 1996 (2.93%), inflation in Minneapolis/St. Paul was higher.

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
New cars · Legal services · Women's apparel · Parking fees and tolls · More

Buying power of $83.00 since 1996

Below are calculations of equivalent buying power in Minneapolis/St. Paul, over time, for $83 beginning in 1996. Each of the amounts below is equivalent in terms of what it could buy at the time:

YearUSD ValueInflation Rate
1996$83.003.33%
1997$84.912.30%
1998$86.501.87%
1999$89.233.16%
2000$92.944.16%
2001$96.443.76%
2002$98.141.76%
2003$99.831.73%
2004$102.672.85%
2005$105.512.77%
2006$107.211.61%
2007$109.962.57%
2008$114.183.83%
2009$113.59-0.51%
2010$115.691.85%
2011$119.853.59%
2012$122.652.33%
2013$125.031.94%
2014$126.771.40%
2015$125.98-0.62%
2016$127.941.55%
2017$130.722.18%
2018$133.852.40%
2019$136.662.10%
2020$138.241.16%
2021$144.934.84%
2022$155.737.45%
2023$159.952.71%*

* 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 1996 * 1996 USD value = 2023 USD value

Then plug in historical CPI values from above. The CPI for Minneapolis-St Paul, Minnesota was 151.900 in the year 1996 and 292.720 in 2023:

292.720 / 151.900 * $83 = $159.95

Therefore, according to U.S. Bureau of Labor Statistics, $83 in 1996 has the same "purchasing power" as $159.95 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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