According to the U.S. Bureau of Labor Statistics, prices for motor vehicle repair were 16.18% higher in 2021 versus 2014 (a $80.89 difference in value).
Between 2014 and 2021: Car repair experienced an average inflation rate of 2.17% per year. This rate of change indicates significant inflation. In other words, car repair costing $500 in the year 2014 would cost $580.89 in 2021 for an equivalent purchase. Compared to the overall inflation rate of 1.48% during this same period, inflation for car repair was higher.
In the year 2014: Pricing changed by 1.78%, which is below the average yearly change for car repair during the 2014-2021 time period. Compared to inflation for all items in 2014 (1.62%), inflation for car repair was higher.
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 2014. Each of the amounts below is equivalent in terms of what it could buy at the time:
|Year||USD Value||Inflation Rate|