According to the U.S. Bureau of Labor Statistics, prices for motor vehicle repair were 21.54% higher in 2021 versus 2012 (a $107.70 difference in value).
Between 2012 and 2021: Car repair experienced an average inflation rate of 2.19% per year. This rate of change indicates significant inflation. In other words, car repair costing $500 in the year 2012 would cost $607.70 in 2021 for an equivalent purchase. Compared to the overall inflation rate of 1.73% during this same period, inflation for car repair was higher.
In the year 2012: Pricing changed by 1.46%, which is below the average yearly change for car repair during the 2012-2021 time period. Compared to inflation for all items in 2012 (2.07%), inflation for car repair was lower.
Raw Consumer Price Index data from U.S. Bureau of Labor Statistics for Motor vehicle repair:
Below are calculations of equivalent buying power for Car repair, over time, for $500 beginning in 2012. Each of the amounts below is equivalent in terms of what it could buy at the time:
|Year||USD Value||Inflation Rate|