According to the U.S. Bureau of Labor Statistics, prices for motor vehicle maintenance and servicing were 2.25% higher in 2021 versus 2020 (a $11.24 difference in value).
Between 2020 and 2021: Car servicing experienced an average inflation rate of 2.25% per year. This rate of change indicates significant inflation. In other words, car servicing costing $500 in the year 2020 would cost $511.24 in 2021 for an equivalent purchase. Compared to the overall inflation rate of 2.87% during this same period, inflation for car servicing was lower.
In the year 2020: Pricing changed by 2.96%, which is above the average yearly change for car servicing during the 2020-2021 time period. Compared to inflation for all items in 2020 (1.23%), 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 2020. Each of the amounts below is equivalent in terms of what it could buy at the time:
|Year||USD Value||Inflation Rate|