Car servicing price inflation, 2020→2024

Car Servicing Inflation Calculator

Prices for Car Servicing, 2020-2024 ($500)

According to the U.S. Bureau of Labor Statistics, prices for motor vehicle maintenance and servicing are 25.85% higher in 2024 versus 2020 (a $129.26 difference in value).

Between 2020 and 2024: Car servicing experienced an average inflation rate of 5.92% per year. This rate of change indicates significant inflation. In other words, car servicing costing $500 in the year 2020 would cost $629.26 in 2024 for an equivalent purchase. Compared to the overall inflation rate of 4.89% during this same period, inflation for car servicing was higher.

In the year 2020: Pricing changed by 2.96%, which is below the average yearly change for car servicing during the 2020-2024 time period. Compared to inflation for all items in 2020 (1.23%), 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%).

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Buying power of $500.00 since 2020

Below are calculations of equivalent buying power for Car servicing, over time, for $500 beginning in 2020. Each of the amounts below is equivalent in terms of what it could buy at the time:

Year	USD Value	Inflation Rate
2020	$500.00	2.96%
2021	$518.11	3.62%
2022	$552.69	6.67%
2023	$598.04	8.21%
2024	$629.26	5.22%*

* 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:

Year	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	66.100	69.138	76.062	83.715	90.769	96.931	100.469	102.600	104.769	107.769	112.800	117.769	121.392	125.069	130.815	135.685	138.523	140.362	143.262	146.662	149.585	154.838	158.777	162.677	168.792	174.992	179.523	182.754	189.215	195.662	202.143	213.060	222.326	225.217	228.295	233.271	236.922	240.340	243.337	246.664	252.009	258.418	269.191	277.163	287.204	306.368	331.507	348.816

Adjust car servicing prices for inflation

Start with the inflation rate formula:

CPI in 2024 / CPI in 2020 * 2020 USD value = 2024 USD value

Then plug in historical CPI values from above. The CPI for Motor vehicle maintenance and servicing was 277.163 in the year 2020 and 348.816 in 2024:

348.816 / 277.163 * $500 = $629.26

Therefore, according to U.S. Bureau of Labor Statistics, $500 in 2020 has the same "purchasing power" as $629.26 in 2024 (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.