According to the U.S. Bureau of Labor Statistics, prices for motor vehicle repair were 5.14% higher in 2020 versus 2018 (a $25.68 difference in value).
Between 2018 and 2020: Car repair experienced an average inflation rate of 2.54% per year. This rate of change indicates significant inflation. In other words, car repair costing $500 in the year 2018 would cost $525.68 in 2020 for an equivalent purchase. Compared to the overall inflation rate of 1.37% during this same period, 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 2018. Each of the amounts below is equivalent in terms of what it could buy at the time:
|Year||USD Value||Inflation Rate|