According to the U.S. Bureau of Labor Statistics, prices in Minneapolis-St Paul, Minnesota are 89.42% higher in 2024 versus 1998 (a $50,075.25 difference in value).
Between 1998 and 2024: Minneapolis/St. Paul experienced an average inflation rate of 2.49% per year. This rate of change indicates significant inflation. In other words, $56,000 in Minneapolis/St. Paul in the year 1998 would cost $106,075.25 in 2024 for an equivalent purchase. Compared to the overall inflation rate of 2.55% during this same period, inflation in Minneapolis/St. Paul was lower.
In the year 1998: Pricing changed by 1.87%, which is below the average yearly change in Minneapolis/St. Paul during the 1998-2024 time period. Compared to inflation for all items in 1998 (1.55%), inflation in Minneapolis/St. Paul was higher.
Below are calculations of equivalent buying power in Minneapolis/St. Paul, over time, for $56,000 beginning in 1998. Each of the amounts below is equivalent in terms of what it could buy at the time:
| Year | USD Value | Inflation Rate |
|---|---|---|
| 1998 | $56,000.00 | 1.87% |
| 1999 | $57,768.79 | 3.16% |
| 2000 | $60,174.35 | 4.16% |
| 2001 | $62,438.41 | 3.76% |
| 2002 | $63,535.06 | 1.76% |
| 2003 | $64,631.71 | 1.73% |
| 2004 | $66,471.26 | 2.85% |
| 2005 | $68,310.80 | 2.77% |
| 2006 | $69,407.45 | 1.61% |
| 2007 | $71,192.87 | 2.57% |
| 2008 | $73,920.71 | 3.83% |
| 2009 | $73,542.54 | -0.51% |
| 2010 | $74,900.62 | 1.85% |
| 2011 | $77,593.08 | 3.59% |
| 2012 | $79,404.32 | 2.33% |
| 2013 | $80,943.88 | 1.94% |
| 2014 | $82,076.61 | 1.40% |
| 2015 | $81,565.08 | -0.62% |
| 2016 | $82,830.83 | 1.55% |
| 2017 | $84,632.87 | 2.18% |
| 2018 | $86,659.91 | 2.40% |
| 2019 | $88,477.17 | 2.10% |
| 2020 | $89,499.89 | 1.16% |
| 2021 | $93,832.37 | 4.84% |
| 2022 | $100,824.06 | 7.45% |
| 2023 | $103,552.24 | 2.71% |
| 2024 | $106,075.25 | 2.44%* |
* 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 | 2024 |
| 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 | 299.852 |