According to the U.S. Bureau of Labor Statistics, prices for motor vehicle fees were 7.15% higher in 2020 versus 2016 (a $7.15 difference in value).
Between 2016 and 2020: Motor vehicle fees experienced an average inflation rate of 1.74% per year. In other words, motor vehicle fees costing $100 in the year 2016 would cost $107.15 in 2020 for an equivalent purchase. Compared to the overall inflation rate of 1.78% during this same period, inflation for motor vehicle fees was lower.
In the year 2016: Pricing changed by 2.06%, which is above the average yearly change for motor vehicle fees during the 2016-2020 time period. Compared to inflation for all items in 2016 (1.26%), inflation for motor vehicle fees was higher.
Raw Consumer Price Index data from U.S. Bureau of Labor Statistics for Motor vehicle fees:
Below are calculations of equivalent buying power for Motor vehicle fees, over time, for $100 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|