Minneapolis/St. Paul, Minnesota prices: $19,000,000 in 2006 $28,346,992.86 in 2023

Inflation in Minnesota

$

Prices in Minneapolis/st. Paul, 2006-2023 ($19,000,000)

According to the U.S. Bureau of Labor Statistics, prices in Minneapolis-St Paul, Minnesota are 49.19% higher in 2023 versus 2006 (a $9,346,992.86 difference in value).

Between 2006 and 2023: Minneapolis/St. Paul experienced an average inflation rate of 2.38% per year. This rate of change indicates significant inflation. In other words, $19,000,000 in Minneapolis/St. Paul in the year 2006 would cost $28,346,992.86 in 2023 for an equivalent purchase. Compared to the overall inflation rate of 2.46% during this same period, inflation in Minneapolis/St. Paul was lower.

In the year 2006: Pricing changed by 1.61%, which is below the average yearly change in Minneapolis/St. Paul during the 2006-2023 time period. Compared to inflation for all items in 2006 (3.23%), 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
Wine at home · Hospital services · Minneapolis-St Paul, Minnesota · San Francisco, California · More

Buying power of $19,000,000.00 since 2006

Below are calculations of equivalent buying power in Minneapolis/St. Paul, over time, for $19,000,000 beginning in 2006. Each of the amounts below is equivalent in terms of what it could buy at the time:

YearUSD ValueInflation Rate
2006$19,000,000.001.61%
2007$19,488,751.272.57%
2008$20,235,484.203.83%
2009$20,131,962.28-0.51%
2010$20,503,730.891.85%
2011$21,240,779.823.59%
2012$21,736,600.412.33%
2013$22,158,047.911.94%
2014$22,468,129.461.40%
2015$22,328,098.88-0.62%
2016$22,674,592.251.55%
2017$23,167,895.012.18%
2018$23,722,787.972.40%
2019$24,220,254.842.10%
2020$24,500,219.161.16%
2021$25,686,218.144.84%
2022$27,600,163.107.45%
2023$28,346,992.862.71%*

* 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 2006 * 2006 USD value = 2023 USD value

Then plug in historical CPI values from above. The CPI for Minneapolis-St Paul, Minnesota was 196.200 in the year 2006 and 292.720 in 2023:

292.720 / 196.200 * $19,000,000 = $28,346,992.86

Therefore, according to U.S. Bureau of Labor Statistics, $19,000,000 in 2006 has the same "purchasing power" as $28,346,992.86 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.