According to the U.S. Bureau of Labor Statistics, prices for motor vehicle maintenance and servicing were 6.63% higher in 2020 versus 2018 (a $33.15 difference in value).
Between 2018 and 2020: Car servicing experienced an average inflation rate of 3.26% per year. This rate of change indicates significant inflation. In other words, car servicing costing $500 in the year 2018 would cost $533.15 in 2020 for an equivalent purchase. Compared to the overall inflation rate of 1.46% during this same period, inflation for car servicing was higher.
Raw Consumer Price Index data from U.S. Bureau of Labor Statistics for Motor vehicle maintenance and servicing:
Below are calculations of equivalent buying power for Car servicing, 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|