According to the U.S. Bureau of Labor Statistics, prices in Minneapolis-St Paul, Minnesota are 25.02% higher in 2023 versus 2016 (a $29,235.59 difference in value).
Between 2016 and 2023: Minneapolis/St. Paul experienced an average inflation rate of 3.24% per year. This rate of change indicates significant inflation. In other words, $116,865 in Minneapolis/St. Paul in the year 2016 would cost $146,100.59 in 2023 for an equivalent purchase. Compared to the overall inflation rate of 3.47% during this same period, inflation in Minneapolis/St. Paul was lower.
In the year 2016: Pricing changed by 1.55%, which is below the average yearly change in Minneapolis/St. Paul during the 2016-2023 time period. Compared to inflation for all items in 2016 (1.26%), inflation in Minneapolis/St. Paul was higher.
Below are calculations of equivalent buying power in Minneapolis/St. Paul, over time, for $116,865 beginning in 2016. Each of the amounts below is equivalent in terms of what it could buy at the time:
Year | USD Value | Inflation Rate |
---|---|---|
2016 | $116,865.00 | 1.55% |
2017 | $119,407.49 | 2.18% |
2018 | $122,267.41 | 2.40% |
2019 | $124,831.36 | 2.10% |
2020 | $126,274.29 | 1.16% |
2021 | $132,386.94 | 4.84% |
2022 | $142,251.43 | 7.45% |
2023 | $146,100.59 | 2.71%* |
* 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:
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 |
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 |