Motor vehicle body work price inflation, 2023→2024

Motor Vehicle Body Work Inflation Calculator

Prices for Motor Vehicle Body Work, 2023-2024 ($20)

According to the U.S. Bureau of Labor Statistics, prices for motor vehicle body work are 1.16% higher in 2024 versus 2023 (a $0.23 difference in value).

Between 2023 and 2024: Motor vehicle body work experienced an average inflation rate of 1.16% per year. In other words, motor vehicle body work costing $20 in the year 2023 would cost $20.23 in 2024 for an equivalent purchase. Compared to the overall inflation rate of 2.83% during this same period, inflation for motor vehicle body work was lower.

In the year 2023: Pricing changed by 6.58%, which is significantly above the average yearly change for motor vehicle body work during the 2023-2024 time period. Compared to inflation for all items in 2023 (4.12%), inflation for motor vehicle body work was higher.

Price Inflation for Motor vehicle body work since 1977

Consumer Price Index, U.S. Bureau of Labor Statistics

Years with the largest changes in pricing: 1980 (12.62%), 2022 (12.53%), and 1979 (10.99%).

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Buying power of $20.00 since 2023

Below are calculations of equivalent buying power for Motor vehicle body work, over time, for $20 beginning in 2023. Each of the amounts below is equivalent in terms of what it could buy at the time:

Year	USD Value	Inflation Rate
2023	$20.00	6.58%
2024	$20.23	1.16%*

* 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 Motor vehicle body work:

Year	1977	1978	1979	1980	1981	1982	1983	1984	1985	1986	1987	1988	1989	1990	1991	1992	1993	1994	1995	1996	1997	1998	1999	2000	2001	2002	2003	2004	2005	2006	2007	2008	2009	2010	2011	2012	2013	2014	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
CPI	60.500	63.531	70.515	79.415	87.023	94.946	100.492	104.592	108.762	112.115	117.223	123.377	130.538	135.892	140.285	143.831	147.892	153.562	158.900	166.031	172.869	179.469	182.208	187.785	194.854	199.600	202.938	208.238	215.031	224.769	232.233	239.732	248.548	254.398	259.930	264.941	270.976	277.958	280.793	287.580	294.463	302.730	313.465	324.686	342.961	385.940	411.339	416.127

Adjust motor vehicle body work prices for inflation

Start with the inflation rate formula:

CPI in 2024 / CPI in 2023 * 2023 USD value = 2024 USD value

Then plug in historical CPI values from above. The CPI for Motor vehicle body work was 411.339 in the year 2023 and 416.127 in 2024:

416.127 / 411.339 * $20 = $20.23

Therefore, according to U.S. Bureau of Labor Statistics, $20 in 2023 has the same "purchasing power" as $20.23 in 2024 (in the CPI category of Motor vehicle body work).

Source: U.S. Bureau of Labor Statistics began tracking the Consumer Price Index for Motor vehicle body work in 1977. In addition to motor vehicle body work, the index produces monthly data on changes in prices paid by urban consumers for a variety of goods and services.