Car servicing priced at $500 in 2016 $621.02 in 2022

Car Servicing Inflation Calculator

$

Prices for Car Servicing, 2016-2022 ($500)

According to the U.S. Bureau of Labor Statistics, prices for motor vehicle maintenance and servicing are 24.20% higher in 2022 versus 2016 (a $121.02 difference in value).

Between 2016 and 2022: Car servicing experienced an average inflation rate of 3.68% per year. This rate of change indicates significant inflation. In other words, car servicing costing $500 in the year 2016 would cost $621.02 in 2022 for an equivalent purchase. Compared to the overall inflation rate of 3.36% during this same period, inflation for car servicing was higher.

In the year 2016: Pricing changed by 1.37%, which is below the average yearly change for car servicing during the 2016-2022 time period. Compared to inflation for all items in 2016 (1.26%), inflation for car servicing was higher.

Price Inflation for Motor vehicle maintenance and servicing since 1977

Consumer Price Index, U.S. Bureau of Labor Statistics
Years with the largest changes in pricing: 1980 (10.06%), 1979 (10.01%), and 1981 (8.43%).

View price changes for other categories
Indoor plants and flowers · Public transportation · Medical care · Admission to sporting events · More

Buying power of $500.00 since 2016

Below are calculations of equivalent buying power for Car servicing, over time, for $500 beginning in 2016. Each of the amounts below is equivalent in terms of what it could buy at the time:

YearUSD ValueInflation Rate
2016$500.001.37%
2017$510.842.17%
2018$523.832.54%
2019$545.664.17%
2020$561.822.96%
2021$582.183.62%
2022$621.026.67%*

* 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 servicing:

Year1977197819791980198119821983198419851986198719881989199019911992199319941995199619971998199920002001200220032004200520062007200820092010201120122013201420152016201720182019202020212022
CPI66.10069.13876.06283.71590.76996.931100.469102.600104.769107.769112.800117.769121.392125.069130.815135.685138.523140.362143.262146.662149.585154.838158.777162.677168.792174.992179.523182.754189.215195.662202.143213.060222.326225.217228.295233.271236.922240.340243.337246.664252.009258.418269.191277.163287.204306.368

Adjust car servicing prices for inflation

Start with the inflation rate formula:

CPI in 2022 / CPI in 2016 * 2016 USD value = 2022 USD value

Then plug in historical CPI values from above. The CPI for Motor vehicle maintenance and servicing was 246.664 in the year 2016 and 306.368 in 2022:

306.368 / 246.664 * $500 = $621.02

Therefore, according to U.S. Bureau of Labor Statistics, $500 in 2016 has the same "purchasing power" as $621.02 in 2022 (in the CPI category of Motor vehicle maintenance and servicing).


Source: U.S. Bureau of Labor Statistics began tracking the Consumer Price Index for Motor vehicle maintenance and servicing in 1977. In addition to car servicing, the index produces monthly data on changes in prices paid by urban consumers for a variety of goods and services.

» Read more about inflation and investment.