Car and truck rental priced at $20 in 2016 $27.65 in 2023

Car And Truck Rental Inflation Calculator


Prices for Car And Truck Rental, 2016-2023 ($20)

According to the U.S. Bureau of Labor Statistics, prices for car and truck rental are 38.25% higher in 2023 versus 2016 (a $7.65 difference in value).

Between 2016 and 2023: Car and truck rental experienced an average inflation rate of 4.74% per year. This rate of change indicates significant inflation. In other words, car and truck rental costing $20 in the year 2016 would cost $27.65 in 2023 for an equivalent purchase. Compared to the overall inflation rate of 3.40% during this same period, inflation for car and truck rental was higher.

In the year 2016: Pricing changed by 2.61%, which is below the average yearly change for car and truck rental during the 2016-2023 time period. Compared to inflation for all items in 2016 (1.26%), inflation for car and truck rental was higher.

Price Inflation for Car and truck rental since 1997

Consumer Price Index, U.S. Bureau of Labor Statistics
Years with the largest changes in pricing: 2021 (48.39%), 2009 (8.39%), and 2023 (-6.40%).

View price changes for other categories
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Buying power of $20.00 since 2016

Below are calculations of equivalent buying power for Car and truck rental, over time, for $20 beginning in 2016. Each of the amounts below is equivalent in terms of what it could buy at the time:

YearUSD ValueInflation Rate

* 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 Car and truck rental:


Adjust car and truck rental prices for inflation

Start with the inflation rate formula:

CPI in 2023 / CPI in 2016 * 2016 USD value = 2023 USD value

Then plug in historical CPI values from above. The CPI for Car and truck rental was 131.125 in the year 2016 and 181.281 in 2023:

181.281 / 131.125 * $20 = $27.65

Therefore, according to U.S. Bureau of Labor Statistics, $20 in 2016 has the same "purchasing power" as $27.65 in 2023 (in the CPI category of Car and truck rental).

Source: U.S. Bureau of Labor Statistics began tracking the Consumer Price Index for Car and truck rental in 1997. In addition to car and truck rental, the index produces monthly data on changes in prices paid by urban consumers for a variety of goods and services.

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