According to the U.S. Bureau of Labor Statistics, prices for motor vehicle maintenance and repair were 6.30% higher in 2020 versus 2018 (a $31.52 difference in value).
Between 2018 and 2020: Car maintenance experienced an average inflation rate of 3.10% per year. This rate of change indicates significant inflation. In other words, car maintenance costing $500 in the year 2018 would cost $531.52 in 2020 for an equivalent purchase. Compared to the overall inflation rate of 1.37% during this same period, inflation for car maintenance was higher.
In the year 2018: Pricing changed by 1.97%, which is below the average yearly change for car maintenance during the 2018-2020 time period. Compared to inflation for all items in 2018 (2.44%), inflation for car maintenance was lower.
Raw Consumer Price Index data from U.S. Bureau of Labor Statistics for Motor vehicle maintenance and repair:
Below are calculations of equivalent buying power for Car maintenance, over time, for $500 beginning in 2018. Each of the amounts below is equivalent in terms of what it could buy at the time:
|Year||USD Value||Inflation Rate|