According to the U.S. Bureau of Labor Statistics, prices for motor vehicle body work are 31.29% higher in 2022 versus 2016 (a $6.26 difference in value).
Between 2016 and 2022: Motor vehicle body work experienced an average inflation rate of 4.64% per year. This rate of change indicates significant inflation. In other words, motor vehicle body work costing $20 in the year 2016 would cost $26.26 in 2022 for an equivalent purchase. Compared to the overall inflation rate of 3.11% during this same period, inflation for motor vehicle body work was higher.
In the year 2016: Pricing changed by 2.42%, which is below the average yearly change for motor vehicle body work during the 2016-2022 time period. Compared to inflation for all items in 2016 (1.26%), inflation for motor vehicle body work was higher.
Below are calculations of equivalent buying power for Motor vehicle body work, over time, for $20 beginning in 2016. 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 Motor vehicle body work: