According to the U.S. Bureau of Labor Statistics, prices in Minneapolis-St Paul, Minnesota are 13.28% higher in 2021 versus 2016 (a $6,227.90 difference in value).
Between 2016 and 2021: Minneapolis/St. Paul experienced an average inflation rate of 2.53% per year. This rate of change indicates significant inflation. In other words, $46,890 in Minneapolis/St. Paul in the year 2016 would cost $53,117.90 in 2021 for an equivalent purchase. Compared to the overall inflation rate of 2.46% during this same period, inflation in Minneapolis/St. Paul was higher.
In the year 2016: Pricing changed by 1.55%, which is below the average yearly change in Minneapolis/St. Paul during the 2016-2021 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 $46,890 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|
Raw Consumer Price Index data from U.S. Bureau of Labor Statistics for Minneapolis-St Paul, Minnesota: