diff --git a/assets/js/blocks/mini-cart/utils/data.ts b/assets/js/blocks/mini-cart/utils/data.ts
index 7cb5c78c316..a4d1ea62611 100644
--- a/assets/js/blocks/mini-cart/utils/data.ts
+++ b/assets/js/blocks/mini-cart/utils/data.ts
@@ -6,7 +6,16 @@ import {
 	getCurrencyFromPriceResponse,
 	formatPrice,
 } from '@woocommerce/price-format';
-import { CartResponse } from '@woocommerce/types';
+import { CartResponse, isBoolean } from '@woocommerce/types';
+import { getSettingWithCoercion } from '@woocommerce/settings';
+
+const getPrice = ( cartResponse: CartResponse, showIncludingTax: boolean ) => {
+	const currency = getCurrencyFromPriceResponse( cartResponse.totals );
+
+	return showIncludingTax
+		? formatPrice( cartResponse.totals.total_price, currency )
+		: formatPrice( cartResponse.totals.total_items, currency );
+};
 
 export const updateTotals = ( totals: [ string, number ] | undefined ) => {
 	if ( ! totals ) {
@@ -86,11 +95,12 @@ export const getMiniCartTotalsFromLocalStorage = ():
 		return undefined;
 	}
 	const miniCartTotals = JSON.parse( rawMiniCartTotals );
-	const currency = getCurrencyFromPriceResponse( miniCartTotals.totals );
-	const formattedPrice = formatPrice(
-		miniCartTotals.totals.total_price,
-		currency
+	const showIncludingTax = getSettingWithCoercion(
+		'displayCartPricesIncludingTax',
+		false,
+		isBoolean
 	);
+	const formattedPrice = getPrice( miniCartTotals, showIncludingTax );
 	return [ formattedPrice, miniCartTotals.itemsCount ] as [ string, number ];
 };
 
@@ -107,11 +117,12 @@ export const getMiniCartTotalsFromServer = async (): Promise<
 			return response.json();
 		} )
 		.then( ( data: CartResponse ) => {
-			const currency = getCurrencyFromPriceResponse( data.totals );
-			const formattedPrice = formatPrice(
-				data.totals.total_price,
-				currency
+			const showIncludingTax = getSettingWithCoercion(
+				'displayCartPricesIncludingTax',
+				false,
+				isBoolean
 			);
+			const formattedPrice = getPrice( data, showIncludingTax );
 			// Save server data to local storage, so we can re-fetch it faster
 			// on the next page load.
 			localStorage.setItem(
diff --git a/assets/js/blocks/mini-cart/utils/test/data.ts b/assets/js/blocks/mini-cart/utils/test/data.ts
index 73e72b73f8e..7c02da72053 100644
--- a/assets/js/blocks/mini-cart/utils/test/data.ts
+++ b/assets/js/blocks/mini-cart/utils/test/data.ts
@@ -3,6 +3,7 @@
  * External dependencies
  */
 import { getByTestId, waitFor } from '@testing-library/dom';
+import { getSettingWithCoercion } from '@woocommerce/settings';
 
 /**
  * Internal dependencies
@@ -19,6 +20,7 @@ const responseMock = {
 	json: async () => ( {
 		totals: {
 			total_price: '1600',
+			total_items: '1400',
 			currency_code: 'USD',
 			currency_symbol: '$',
 			currency_minor_unit: 2,
@@ -33,6 +35,7 @@ const responseMock = {
 const localStorageMock = {
 	totals: {
 		total_price: '1600',
+		total_items: '1400',
 		currency_code: 'USD',
 		currency_symbol: '$',
 		currency_minor_unit: 2,
@@ -67,7 +70,21 @@ const getMiniCartDOM = () => {
 	return div;
 };
 
-describe( 'Mini-Cart frontend script', () => {
+jest.mock( '@woocommerce/settings', () => {
+	return {
+		...jest.requireActual( '@woocommerce/settings' ),
+		getSettingWithCoercion: jest.fn(),
+	};
+} );
+
+describe( 'Mini-Cart frontend script when "the display prices during cart and checkout" option is set to "Including Tax"', () => {
+	beforeAll( () => {
+		( getSettingWithCoercion as jest.Mock ).mockReturnValue( true );
+	} );
+
+	afterAll( () => {
+		jest.resetModules();
+	} );
 	it( 'updates the cart contents based on the localStorage values', async () => {
 		initializeLocalStorage();
 		const container = getMiniCartDOM();
@@ -125,3 +142,65 @@ describe( 'Mini-Cart frontend script', () => {
 		jest.restoreAllMocks();
 	} );
 } );
+
+describe( 'Mini-Cart frontend script when "the display prices during cart and checkout" option is set to "Excluding Tax"', () => {
+	beforeAll( () => {
+		( getSettingWithCoercion as jest.Mock ).mockReturnValue( false );
+	} );
+	it( 'updates the cart contents based on the localStorage values', async () => {
+		initializeLocalStorage();
+		const container = getMiniCartDOM();
+		document.body.appendChild( container );
+
+		updateTotals( getMiniCartTotalsFromLocalStorage() );
+
+		// Assert that we are rendering the amount.
+		await waitFor( () =>
+			expect( getByTestId( container, 'amount' ).textContent ).toBe(
+				'$14.00'
+			)
+		);
+		// Assert that we are rendering the quantity.
+		await waitFor( () =>
+			expect( getByTestId( container, 'quantity' ).textContent ).toBe(
+				'2'
+			)
+		);
+	} );
+
+	it( 'updates the cart contents based on the API response', async () => {
+		jest.spyOn( window, 'fetch' ).mockResolvedValue( responseMock );
+		const container = getMiniCartDOM();
+		document.body.appendChild( container );
+
+		getMiniCartTotalsFromServer().then( updateTotals );
+
+		// Assert we called the correct endpoint.
+		await waitFor( () =>
+			expect( window.fetch ).toHaveBeenCalledWith(
+				'/wp-json/wc/store/v1/cart/'
+			)
+		);
+
+		// Assert we saved the values returned to the localStorage.
+		await waitFor( () =>
+			expect( window.localStorage.setItem.mock.calls[ 0 ][ 1 ] ).toEqual(
+				JSON.stringify( localStorageMock )
+			)
+		);
+
+		// Assert that we are rendering the amount.
+		await waitFor( () =>
+			expect( getByTestId( container, 'amount' ).textContent ).toBe(
+				'$14.00'
+			)
+		);
+		// Assert that we are rendering the quantity.
+		await waitFor( () =>
+			expect( getByTestId( container, 'quantity' ).textContent ).toBe(
+				'2'
+			)
+		);
+		jest.restoreAllMocks();
+	} );
+} );