According to the U.S. Bureau of Labor Statistics, prices for motor vehicle maintenance and servicing were 14.89% higher in 2021 versus 2016 (a $74.45 difference in value).
Between 2016 and 2021: Car servicing experienced an average inflation rate of 2.81% per year. This rate of change indicates significant inflation. In other words, car servicing costing $500 in the year 2016 would cost $574.45 in 2021 for an equivalent purchase. Compared to the overall inflation rate of 2.10% 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 2016-2021 time period. Compared to inflation for all items in 2016 (1.26%), 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 2016. Each of the amounts below is equivalent in terms of what it could buy at the time:
|Year||USD Value||Inflation Rate|