Minneapolis/St. Paul, Minnesota prices: $24,000,000 in 1985 $67,256,523.36 in 2024

Inflation in Minnesota

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Prices in Minneapolis/st. Paul, 1985-2024 ($24,000,000)

According to the U.S. Bureau of Labor Statistics, prices in Minneapolis-St Paul, Minnesota are 180.24% higher in 2024 versus 1985 (a $43,256,523.36 difference in value).

Between 1985 and 2024: Minneapolis/St. Paul experienced an average inflation rate of 2.68% per year. This rate of change indicates significant inflation. In other words, $24,000,000 in Minneapolis/St. Paul in the year 1985 would cost $67,256,523.36 in 2024 for an equivalent purchase. Compared to the overall inflation rate of 2.78% during this same period, inflation in Minneapolis/St. Paul was lower.

In the year 1985: Pricing changed by 3.78%, which is above the average yearly change in Minneapolis/St. Paul during the 1985-2024 time period. Compared to inflation for all items in 1985 (3.55%), 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
Bananas · Public transportation · Educational books and supplies · Film and photographic supplies · More

Buying power of $24,000,000.00 since 1985

Below are calculations of equivalent buying power in Minneapolis/St. Paul, over time, for $24,000,000 beginning in 1985. Each of the amounts below is equivalent in terms of what it could buy at the time:

YearUSD ValueInflation Rate
1985$24,000,000.003.78%
1986$24,314,018.691.31%
1987$25,031,775.702.95%
1988$26,287,850.475.02%
1989$27,364,485.984.10%
1990$28,485,981.314.10%
1991$29,248,598.132.68%
1992$30,280,373.833.53%
1993$31,222,429.913.11%
1994$32,209,345.793.16%
1995$32,971,962.622.37%
1996$34,071,028.043.33%
1997$34,856,074.772.30%
1998$35,506,542.061.87%
1999$36,628,037.383.16%
2000$38,153,271.034.16%
2001$39,588,785.053.76%
2002$40,284,112.151.76%
2003$40,979,439.251.73%
2004$42,145,794.392.85%
2005$43,312,149.532.77%
2006$44,007,476.641.61%
2007$45,139,514.022.57%
2008$46,869,084.113.83%
2009$46,629,308.41-0.51%
2010$47,490,392.521.85%
2011$49,197,532.713.59%
2012$50,345,943.932.33%
2013$51,322,093.461.94%
2014$52,040,299.071.40%
2015$51,715,962.62-0.62%
2016$52,518,504.671.55%
2017$53,661,084.112.18%
2018$54,946,317.762.40%
2019$56,098,542.062.10%
2020$56,746,990.651.16%
2021$59,493,981.314.84%
2022$63,927,028.047.45%
2023$65,656,822.432.71%
2024$67,256,523.362.44%*

* 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:

Year19841985198619871988198919901991199219931994199519961997199819992000200120022003200420052006200720082009201020112012201320142015201620172018201920202021202220232024
CPI103.100107.000108.400111.600117.200122.000127.000130.400135.000139.200143.600147.000151.900155.400158.300163.300170.100176.500179.600182.700187.900193.100196.200201.247208.958207.889211.728219.339224.459228.811232.013230.567234.145239.239244.969250.106252.997265.244285.008292.720299.852

Adjust Minneapolis/St. Paul prices for inflation

Start with the inflation rate formula:

CPI in 2024 / CPI in 1985 * 1985 USD value = 2024 USD value

Then plug in historical CPI values from above. The CPI for Minneapolis-St Paul, Minnesota was 107.000 in the year 1985 and 299.852 in 2024:

299.852 / 107.000 * $24,000,000 = $67,256,523.36

Therefore, according to U.S. Bureau of Labor Statistics, $24,000,000 in 1985 has the same "purchasing power" as $67,256,523.36 in 2024 (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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