According to the U.S. Bureau of Labor Statistics, prices for motor vehicle repair are 166.14% higher in 2024 versus 1997 (a $830.68 difference in value).
Between 1997 and 2024: Car repair experienced an average inflation rate of 3.69% per year. This rate of change indicates significant inflation. In other words, car repair costing $500 in the year 1997 would cost $1,330.68 in 2024 for an equivalent purchase. Compared to the overall inflation rate of 2.50% during this same period, inflation for car repair was higher.
Below are calculations of equivalent buying power for Car repair, over time, for $500 beginning in 1997. Each of the amounts below is equivalent in terms of what it could buy at the time:
Year | USD Value | Inflation Rate |
---|---|---|
1997 | $500.00 | - |
1998 | $506.04 | 1.21% |
1999 | $522.35 | 3.22% |
2000 | $540.85 | 3.54% |
2001 | $558.88 | 3.34% |
2002 | $579.81 | 3.74% |
2003 | $597.85 | 3.11% |
2004 | $613.46 | 2.61% |
2005 | $633.62 | 3.29% |
2006 | $663.69 | 4.75% |
2007 | $686.85 | 3.49% |
2008 | $719.04 | 4.69% |
2009 | $746.86 | 3.87% |
2010 | $764.07 | 2.31% |
2011 | $784.01 | 2.61% |
2012 | $795.44 | 1.46% |
2013 | $807.51 | 1.52% |
2014 | $821.91 | 1.78% |
2015 | $840.60 | 2.27% |
2016 | $857.79 | 2.05% |
2017 | $871.52 | 1.60% |
2018 | $879.25 | 0.89% |
2019 | $896.80 | 2.00% |
2020 | $934.33 | 4.19% |
2021 | $973.49 | 4.19% |
2022 | $1,069.76 | 9.89% |
2023 | $1,252.77 | 17.11% |
2024 | $1,330.68 | 6.22%* |
* 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 repair:
Year | 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 | 100.000 | 101.208 | 104.469 | 108.169 | 111.777 | 115.962 | 119.569 | 122.692 | 126.723 | 132.738 | 137.370 | 143.807 | 149.371 | 152.814 | 156.802 | 159.088 | 161.503 | 164.382 | 168.119 | 171.558 | 174.303 | 175.851 | 179.360 | 186.867 | 194.698 | 213.952 | 250.553 | 266.137 |