According to the U.S. Bureau of Labor Statistics, prices for motor vehicle repair were 3.08% higher in 2020 versus 2019 (a $15.40 difference in value).
Between 2019 and 2020: Car repair experienced an average inflation rate of 3.08% per year. This rate of change indicates significant inflation. In other words, car repair costing $500 in the year 2019 would cost $515.40 in 2020 for an equivalent purchase. Compared to the overall inflation rate of 1.03% during this same period, inflation for car repair was higher.
In the year 2019: Pricing changed by 2%, which is below the average yearly change for car repair during the 2019-2020 time period. Compared to inflation for all items in 2019 (1.81%), 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 2019. Each of the amounts below is equivalent in terms of what it could buy at the time:
|Year||USD Value||Inflation Rate|