According to the U.S. Bureau of Labor Statistics, prices for motor vehicle repair are 6.67% higher in 2024 versus 2023 (a $33.34 difference in value).
Between 2023 and 2024: Car repair experienced an average inflation rate of 6.67% per year. This rate of change indicates significant inflation. In other words, car repair costing $500 in the year 2023 would cost $533.34 in 2024 for an equivalent purchase. Compared to the overall inflation rate of 2.83% during this same period, inflation for car repair was significantly higher.
In the year 2023: Pricing changed by 17.11%, which is significantly above the average yearly change for car repair during the 2023-2024 time period. Compared to inflation for all items in 2023 (4.12%), inflation for car repair was much higher.
Below are calculations of equivalent buying power for Car repair, over time, for $500 beginning in 2023. Each of the amounts below is equivalent in terms of what it could buy at the time:
| Year | USD Value | Inflation Rate |
|---|---|---|
| 2023 | $500.00 | 17.11% |
| 2024 | $533.34 | 6.67%* |
* 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 | 2024 |
| 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 | 250.553 | 267.259 |