Car maintenance price inflation, 2023→2024

Car Maintenance Inflation Calculator

Prices for Car Maintenance, 2023-2024 ($500)

According to the U.S. Bureau of Labor Statistics, prices for motor vehicle maintenance and repair are 5.61% higher in 2024 versus 2023 (a $28.04 difference in value).

Between 2023 and 2024: Car maintenance experienced an average inflation rate of 5.61% per year. This rate of change indicates significant inflation. In other words, car maintenance costing $500 in the year 2023 would cost $528.04 in 2024 for an equivalent purchase. Compared to the overall inflation rate of 2.83% during this same period, inflation for car maintenance was higher.

In the year 2023: Pricing changed by 11.53%, which is significantly above the average yearly change for car maintenance during the 2023-2024 time period. Compared to inflation for all items in 2023 (4.12%), inflation for car maintenance was much higher.

Price Inflation for Motor vehicle maintenance and repair since 1935

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

Years with the largest changes in pricing: 1975 (12.64%), 2023 (11.53%), and 1980 (10.61%).

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Buying power of $500.00 since 2023

Below are calculations of equivalent buying power for Car maintenance, over time, for $500 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	$500.00	11.53%
2024	$528.04	5.61%*

* 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 maintenance and repair:

Year	1935	1936	1937	1938	1939	1940	1941	1942	1943	1944	1945	1946	1947	1948	1949	1950	1951	1952	1953	1954	1955	1956	1957	1958	1959	1960	1961	1962	1963	1964	1965	1966	1967	1968	1969	1970	1971	1972	1973	1974	1975	1976	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	13.100	13.100	13.100	13.100	13.100	13.100	13.600	14.800	15.000	15.200	15.300	15.800	17.217	18.180	18.560	18.980	20.440	20.900	22.060	22.780	23.260	24.240	25.100	25.440	26.020	26.500	27.180	27.460	27.860	28.233	28.800	29.280	30.392	32.031	34.100	36.631	39.262	41.054	43.215	47.638	53.662	57.623	61.908	67.015	73.723	81.546	89.223	95.969	100.269	103.754	106.785	110.338	114.769	119.708	124.877	130.108	135.985	141.269	145.854	150.162	154.015	158.369	162.731	167.069	171.862	177.315	183.515	190.215	195.592	200.162	206.915	215.623	222.963	233.859	243.337	247.954	253.099	257.582	261.641	266.025	270.717	275.351	280.827	286.358	296.000	305.990	317.945	344.139	383.829	405.356

Adjust car maintenance 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 maintenance and repair was 383.829 in the year 2023 and 405.356 in 2024:

405.356 / 383.829 * $500 = $528.04

Therefore, according to U.S. Bureau of Labor Statistics, $500 in 2023 has the same "purchasing power" as $528.04 in 2024 (in the CPI category of Motor vehicle maintenance and repair).

Source: U.S. Bureau of Labor Statistics began tracking the Consumer Price Index for Motor vehicle maintenance and repair in 1935. In addition to car maintenance, the index produces monthly data on changes in prices paid by urban consumers for a variety of goods and services.