Minneapolis/St. Paul, Minnesota prices: $20 in 2014 $25.23 in 2023

Inflation in Minnesota

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Prices in Minneapolis/st. Paul, 2014-2023 ($20)

According to the U.S. Bureau of Labor Statistics, prices in Minneapolis-St Paul, Minnesota are 26.17% higher in 2023 versus 2014 (a $5.23 difference in value).

Between 2014 and 2023: Minneapolis/St. Paul experienced an average inflation rate of 2.62% per year. This rate of change indicates significant inflation. In other words, $20 in Minneapolis/St. Paul in the year 2014 would cost $25.23 in 2023 for an equivalent purchase. Compared to the overall inflation rate of 2.84% during this same period, inflation in Minneapolis/St. Paul was lower.

In the year 2014: Pricing changed by 1.40%, which is below the average yearly change in Minneapolis/St. Paul during the 2014-2023 time period. Compared to inflation for all items in 2014 (1.62%), 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 $20.00 since 2014

Below are calculations of equivalent buying power in Minneapolis/St. Paul, over time, for $20 beginning in 2014. Each of the amounts below is equivalent in terms of what it could buy at the time:

YearUSD ValueInflation Rate
2014$20.001.40%
2015$19.88-0.62%
2016$20.181.55%
2017$20.622.18%
2018$21.122.40%
2019$21.562.10%
2020$21.811.16%
2021$22.864.84%
2022$24.577.45%
2023$25.232.71%*

* 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 2014 * 2014 USD value = 2023 USD value

Then plug in historical CPI values from above. The CPI for Minneapolis-St Paul, Minnesota was 232.013 in the year 2014 and 292.720 in 2023:

292.720 / 232.013 * $20 = $25.23

Therefore, according to U.S. Bureau of Labor Statistics, $20 in 2014 has the same "purchasing power" as $25.23 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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