According to the U.S. Bureau of Labor Statistics, prices for motor vehicle fees are 1.13% higher in 2021 versus 2020 (a $1.13 difference in value).
Between 2020 and 2021: Motor vehicle fees experienced an average inflation rate of 1.13% per year. In other words, motor vehicle fees costing $100 in the year 2020 would cost $101.13 in 2021 for an equivalent purchase. Compared to the overall inflation rate of 4.13% during this same period, inflation for motor vehicle fees was lower.
In the year 2020: Pricing changed by 1.42%, which is above the average yearly change for motor vehicle fees during the 2020-2021 time period. Compared to inflation for all items in 2020 (1.23%), inflation for motor vehicle fees was higher.
Below are calculations of equivalent buying power for Motor vehicle fees, over time, for $100 beginning in 2020. 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 fees: