Car and truck rental priced at $20 in 2020 $24.80 in 2024

Car And Truck Rental Inflation Calculator

$

Prices for Car And Truck Rental, 2020-2024 ($20)

According to the U.S. Bureau of Labor Statistics, prices for car and truck rental are 24.01% higher in 2024 versus 2020 (a $4.80 difference in value).

Between 2020 and 2024: Car and truck rental experienced an average inflation rate of 5.53% per year. This rate of change indicates significant inflation. In other words, car and truck rental costing $20 in the year 2020 would cost $24.80 in 2024 for an equivalent purchase. Compared to the overall inflation rate of 4.76% during this same period, inflation for car and truck rental was higher.

In the year 2020: Pricing changed by 0.66%, which is significantly below the average yearly change for car and truck rental during the 2020-2024 time period. Compared to inflation for all items in 2020 (1.23%), inflation for car and truck rental was lower.

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%), 2024 (-10.29%), and 2023 (-8.42%).

View price changes for other categories
Admission to sporting events · Medical care · Airline fares · Housing · More

Buying power of $20.00 since 2020

Below are calculations of equivalent buying power for Car and truck rental, over time, for $20 beginning in 2020. Each of the amounts below is equivalent in terms of what it could buy at the time:

YearUSD ValueInflation Rate
2020$20.000.66%
2021$29.6848.39%
2022$30.191.72%
2023$27.65-8.42%
2024$24.80-10.29%*

* 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:

Year1997199819992000200120022003200420052006200720082009201020112012201320142015201620172018201920202021202220232024
CPI100.000101.792104.623107.692103.531109.277108.108105.108106.662110.400113.686117.686127.556123.783123.892123.567125.769127.894127.791131.125128.306126.722127.472128.311190.396193.675177.370159.123

Adjust car and truck rental prices for inflation

Start with the inflation rate formula:

CPI in 2024 / CPI in 2020 * 2020 USD value = 2024 USD value

Then plug in historical CPI values from above. The CPI for Car and truck rental was 128.311 in the year 2020 and 159.123 in 2024:

159.123 / 128.311 * $20 = $24.80

Therefore, according to U.S. Bureau of Labor Statistics, $20 in 2020 has the same "purchasing power" as $24.80 in 2024 (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.

» Read more about inflation and investment.