According to the U.S. Bureau of Labor Statistics, prices in Minneapolis-St Paul, Minnesota are 4.84% higher in 2021 versus 2020 (a $0.05 difference in value).
Between 2020 and 2021: Minneapolis/St. Paul experienced an average inflation rate of 4.84% per year. This rate of change indicates significant inflation. In other words, $1 in Minneapolis/St. Paul in the year 2020 would cost $1.05 in 2021 for an equivalent purchase. Compared to the overall inflation rate of 4.70% during this same period, inflation in Minneapolis/St. Paul was higher.
In the year 2020: Pricing changed by 1.16%, which is significantly below the average yearly change in Minneapolis/St. Paul during the 2020-2021 time period. Compared to inflation for all items in 2020 (1.23%), inflation in Minneapolis/St. Paul was lower.
Below are calculations of equivalent buying power in Minneapolis/St. Paul, over time, for $1 beginning in 2020. 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: