Minneapolis/St. Paul, Minnesota prices: $2,500 in 2012 $3,260.28 in 2023

Inflation in Minnesota

$

Prices in Minneapolis/st. Paul, 2012-2023 ($2,500)

According to the U.S. Bureau of Labor Statistics, prices in Minneapolis-St Paul, Minnesota are 30.41% higher in 2023 versus 2012 (a $760.28 difference in value).

Between 2012 and 2023: Minneapolis/St. Paul experienced an average inflation rate of 2.44% per year. This rate of change indicates significant inflation. In other words, $2,500 in Minneapolis/St. Paul in the year 2012 would cost $3,260.28 in 2023 for an equivalent purchase. Compared to the overall inflation rate of 2.61% during this same period, inflation in Minneapolis/St. Paul was lower.

In the year 2012: Pricing changed by 2.33%, which is below the average yearly change in Minneapolis/St. Paul during the 2012-2023 time period. Compared to inflation for all items in 2012 (2.07%), 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
Frankfurters · Tampa, Florida · Seattle, Washington · Detroit, Michigan · More

Buying power of $2,500.00 since 2012

Below are calculations of equivalent buying power in Minneapolis/St. Paul, over time, for $2,500 beginning in 2012. Each of the amounts below is equivalent in terms of what it could buy at the time:

YearUSD ValueInflation Rate
2012$2,500.002.33%
2013$2,548.471.94%
2014$2,584.141.40%
2015$2,568.03-0.62%
2016$2,607.881.55%
2017$2,664.622.18%
2018$2,728.442.40%
2019$2,785.652.10%
2020$2,817.851.16%
2021$2,954.264.84%
2022$3,174.397.45%
2023$3,260.282.71%*

* 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 2012 * 2012 USD value = 2023 USD value

Then plug in historical CPI values from above. The CPI for Minneapolis-St Paul, Minnesota was 224.459 in the year 2012 and 292.720 in 2023:

292.720 / 224.459 * $2,500 = $3,260.28

Therefore, according to U.S. Bureau of Labor Statistics, $2,500 in 2012 has the same "purchasing power" as $3,260.28 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.