Minneapolis/St. Paul, Minnesota prices: $15,000 in 2019 $17,555.76 in 2023

Inflation in Minnesota

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Prices in Minneapolis/st. Paul, 2019-2023 ($15,000)

According to the U.S. Bureau of Labor Statistics, prices in Minneapolis-St Paul, Minnesota are 17.04% higher in 2023 versus 2019 (a $2,555.76 difference in value).

Between 2019 and 2023: Minneapolis/St. Paul experienced an average inflation rate of 4.01% per year. This rate of change indicates significant inflation. In other words, $15,000 in Minneapolis/St. Paul in the year 2019 would cost $17,555.76 in 2023 for an equivalent purchase. Compared to the overall inflation rate of 4.49% during this same period, inflation in Minneapolis/St. Paul was lower.

In the year 2019: Pricing changed by 2.10%, which is below the average yearly change in Minneapolis/St. Paul during the 2019-2023 time period. Compared to inflation for all items in 2019 (1.81%), 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
Rent of primary residence · Jewelry · Bananas · Wireless telephone services · More

Buying power of $15,000.00 since 2019

Below are calculations of equivalent buying power in Minneapolis/St. Paul, over time, for $15,000 beginning in 2019. Each of the amounts below is equivalent in terms of what it could buy at the time:

YearUSD ValueInflation Rate
2019$15,000.002.10%
2020$15,173.391.16%
2021$15,907.904.84%
2022$17,093.237.45%
2023$17,555.762.71%*

* 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 2019 * 2019 USD value = 2023 USD value

Then plug in historical CPI values from above. The CPI for Minneapolis-St Paul, Minnesota was 250.106 in the year 2019 and 292.720 in 2023:

292.720 / 250.106 * $15,000 = $17,555.76

Therefore, according to U.S. Bureau of Labor Statistics, $15,000 in 2019 has the same "purchasing power" as $17,555.76 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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