According to the U.S. Bureau of Labor Statistics, prices for motor vehicle fees are 8.69% higher in 2024 versus 2020 (a $8.69 difference in value).
Between 2020 and 2024: Motor vehicle fees experienced an average inflation rate of 2.11% per year. This rate of change indicates significant inflation. In other words, motor vehicle fees costing $100 in the year 2020 would cost $108.69 in 2024 for an equivalent purchase. Compared to the overall inflation rate of 4.89% during this same period, inflation for motor vehicle fees was lower.
In the year 2020: Pricing changed by 1.42%, which is below the average yearly change for motor vehicle fees during the 2020-2024 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 |
|---|---|---|
| 2020 | $100.00 | 1.42% |
| 2021 | $101.23 | 1.23% |
| 2022 | $102.96 | 1.71% |
| 2023 | $105.71 | 2.67% |
| 2024 | $108.69 | 2.82%* |
* 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 fees:
| Year | 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 | 100.000 | 102.469 | 103.777 | 107.331 | 109.300 | 112.523 | 116.462 | 131.000 | 134.700 | 138.754 | 141.198 | 145.830 | 155.694 | 165.505 | 167.301 | 172.062 | 174.789 | 176.452 | 178.895 | 182.581 | 185.023 | 188.673 | 192.862 | 195.596 | 198.005 | 201.382 | 206.760 | 212.600 |