According to the U.S. Bureau of Labor Statistics, prices for motor vehicle repair were 12.13% higher in 2021 versus 2016 (a $60.63 difference in value).
Between 2016 and 2021: Car repair experienced an average inflation rate of 2.32% per year. This rate of change indicates significant inflation. In other words, car repair costing $500 in the year 2016 would cost $560.63 in 2021 for an equivalent purchase. Compared to the overall inflation rate of 1.93% 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 2016-2021 time period. Compared to inflation for all items in 2016 (1.26%), 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 2016. Each of the amounts below is equivalent in terms of what it could buy at the time:
|Year||USD Value||Inflation Rate|