Car repair price inflation, 2014→2024

Car Repair Inflation Calculator

Prices for Car Repair, 2014-2024 ($500)

According to the U.S. Bureau of Labor Statistics, prices for motor vehicle repair are 62.58% higher in 2024 versus 2014 (a $312.92 difference in value).

Between 2014 and 2024: Car repair experienced an average inflation rate of 4.98% per year. This rate of change indicates significant inflation. In other words, car repair costing $500 in the year 2014 would cost $812.92 in 2024 for an equivalent purchase. Compared to the overall inflation rate of 2.84% during this same period, inflation for car repair was higher.

In the year 2014: Pricing changed by 1.78%, which is significantly below the average yearly change for car repair during the 2014-2024 time period. Compared to inflation for all items in 2014 (1.62%), inflation for car repair was higher.

Price Inflation for Motor vehicle repair since 1997

Consumer Price Index, U.S. Bureau of Labor Statistics

Years with the largest changes in pricing: 2023 (17.11%), 2022 (9.89%), and 2024 (6.67%).

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Buying power of $500.00 since 2014

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
2014	$500.00	1.78%
2015	$511.37	2.27%
2016	$521.83	2.05%
2017	$530.18	1.60%
2018	$534.89	0.89%
2019	$545.56	2.00%
2020	$568.39	4.19%
2021	$592.21	4.19%
2022	$650.78	9.89%
2023	$762.11	17.11%
2024	$812.92	6.67%*

* 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	267.259

Adjust car repair prices for inflation

Start with the inflation rate formula:

CPI in 2024 / CPI in 2014 * 2014 USD value = 2024 USD value

Then plug in historical CPI values from above. The CPI for Motor vehicle repair was 164.382 in the year 2014 and 267.259 in 2024:

267.259 / 164.382 * $500 = $812.92

Therefore, according to U.S. Bureau of Labor Statistics, $500 in 2014 has the same "purchasing power" as $812.92 in 2024 (in the CPI category of Motor vehicle repair).

Source: U.S. Bureau of Labor Statistics began tracking the Consumer Price Index for Motor vehicle repair in 1997. In addition to car repair, the index produces monthly data on changes in prices paid by urban consumers for a variety of goods and services.