Minneapolis/St. Paul, Minnesota prices: $6.96 in 2005 $10.55 in 2023

Inflation in Minnesota

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Prices in Minneapolis/st. Paul, 2005-2023 ($6.96)

According to the U.S. Bureau of Labor Statistics, prices in Minneapolis-St Paul, Minnesota are 51.59% higher in 2023 versus 2005 (a $3.59 difference in value).

Between 2005 and 2023: Minneapolis/St. Paul experienced an average inflation rate of 2.34% per year. This rate of change indicates significant inflation. In other words, $6.96 in Minneapolis/St. Paul in the year 2005 would cost $10.55 in 2023 for an equivalent purchase. Compared to the overall inflation rate of 2.50% during this same period, inflation in Minneapolis/St. Paul was lower.

In the year 2005: Pricing changed by 2.77%, which is above the average yearly change in Minneapolis/St. Paul during the 2005-2023 time period. Compared to inflation for all items in 2005 (3.39%), 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 $6.96 since 2005

Below are calculations of equivalent buying power in Minneapolis/St. Paul, over time, for $6.96 beginning in 2005. Each of the amounts below is equivalent in terms of what it could buy at the time:

YearUSD ValueInflation Rate
2005$6.962.77%
2006$7.071.61%
2007$7.252.57%
2008$7.533.83%
2009$7.49-0.51%
2010$7.631.85%
2011$7.913.59%
2012$8.092.33%
2013$8.251.94%
2014$8.361.40%
2015$8.31-0.62%
2016$8.441.55%
2017$8.622.18%
2018$8.832.40%
2019$9.012.10%
2020$9.121.16%
2021$9.564.84%
2022$10.277.45%
2023$10.552.71%*

* 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 2005 * 2005 USD value = 2023 USD value

Then plug in historical CPI values from above. The CPI for Minneapolis-St Paul, Minnesota was 193.100 in the year 2005 and 292.720 in 2023:

292.720 / 193.100 * $6.96 = $10.55

Therefore, according to U.S. Bureau of Labor Statistics, $6.96 in 2005 has the same "purchasing power" as $10.55 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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