According to the U.S. Bureau of Labor Statistics, prices for motor vehicle repair are 40.67% higher in 2023 versus 2016 (a $203.34 difference in value).
Between 2016 and 2023: Car repair experienced an average inflation rate of 5% per year. This rate of change indicates significant inflation. In other words, car repair costing $500 in the year 2016 would cost $703.34 in 2023 for an equivalent purchase. Compared to the overall inflation rate of 3.30% during this same period, inflation for car repair was higher.
In the year 2016: Pricing changed by 2.05%, which is below the average yearly change for car repair during the 2016-2023 time period. Compared to inflation for all items in 2016 (1.26%), inflation for car repair was higher.
Below are calculations of equivalent buying power for Car repair, over time, for $500 beginning in 2016. Each of the amounts below is equivalent in terms of what it could buy at the time:
| Year | USD Value | Inflation Rate |
|---|---|---|
| 2016 | $500.00 | 2.05% |
| 2017 | $508.00 | 1.60% |
| 2018 | $512.51 | 0.89% |
| 2019 | $522.74 | 2.00% |
| 2020 | $544.62 | 4.19% |
| 2021 | $567.44 | 4.19% |
| 2022 | $623.56 | 9.89% |
| 2023 | $703.34 | 12.79%* |
* 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 |
| 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 | 241.326 |