According to the U.S. Bureau of Labor Statistics, prices for motor vehicle repair were 14.19% higher in 2021 versus 2015 (a $70.96 difference in value).
Between 2015 and 2021: Car repair experienced an average inflation rate of 2.24% per year. This rate of change indicates significant inflation. In other words, car repair costing $500 in the year 2015 would cost $570.96 in 2021 for an equivalent purchase. Compared to the overall inflation rate of 1.76% during this same period, inflation for car repair was higher.
In the year 2015: Pricing changed by 2.27%, which is above the average yearly change for car repair during the 2015-2021 time period. Compared to inflation for all items in 2015 (0.12%), 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 2015. Each of the amounts below is equivalent in terms of what it could buy at the time:
|Year||USD Value||Inflation Rate|