New and used vehicles priced at $20,000 in 1994 $20,847.70 in 2020

New And Used Vehicles Inflation Calculator

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Prices for New And Used Vehicles, 1994-2020 ($20,000)

According to the U.S. Bureau of Labor Statistics, prices for new and used motor vehicles were 4.24% higher in 2020 versus 1994 (a $847.70 difference in value).

Between 1994 and 2020: New and used vehicles experienced an average inflation rate of 0.16% per year. In other words, new and used vehicles costing $20,000 in the year 1994 would cost $20,847.70 in 2020 for an equivalent purchase. Compared to the overall inflation rate of 2.16% during this same period, inflation for new and used vehicles was lower.

In the year 1994: Pricing changed by 4.06%, which is significantly above the average yearly change for new and used vehicles during the 1994-2020 time period. Compared to inflation for all items in 1994 (2.60%), inflation for new and used vehicles was higher.

Price Inflation for New and used motor vehicles since 1993

Consumer Price Index, U.S. Bureau of Labor Statistics
Years with the largest changes in pricing: 1994 (4.06%), 1995 (4.02%), and 2010 (3.91%).

Raw Consumer Price Index data from U.S. Bureau of Labor Statistics for New and used motor vehicles:

Year 1993 1994 1995 1996 1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020
CPI 91.775 95.500 99.342 101.050 100.600 100.125 100.108 100.842 101.308 99.200 96.492 94.192 95.583 95.600 94.305 93.292 93.493 97.150 99.771 100.604 100.940 100.809 100.780 100.096 98.782 99.123 99.449 99.548

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Buying power of $20000 since 1994

Below are calculations of equivalent buying power for New and used vehicles, over time, for $20000 beginning in 1994. Each of the amounts below is equivalent in terms of what it could buy at the time:

Year USD Value Inflation Rate
1994 $20,000.00 4.06%
1995 $20,804.54 4.02%
1996 $21,162.30 1.72%
1997 $21,068.06 -0.45%
1998 $20,968.59 -0.47%
1999 $20,965.10 -0.02%
2000 $21,118.67 0.73%
2001 $21,216.40 0.46%
2002 $20,774.87 -2.08%
2003 $20,207.68 -2.73%
2004 $19,726.00 -2.38%
2005 $20,017.45 1.48%
2006 $20,020.94 0.02%
2007 $19,749.74 -1.35%
2008 $19,537.54 -1.07%
2009 $19,579.69 0.22%
2010 $20,345.53 3.91%
2011 $20,894.45 2.70%
2012 $21,069.01 0.84%
2013 $21,139.25 0.33%
2014 $21,111.75 -0.13%
2015 $21,105.69 -0.03%
2016 $20,962.62 -0.68%
2017 $20,687.35 -1.31%
2018 $20,758.74 0.35%
2019 $20,827.00 0.33%
2020 $20,847.70 0.10%*
* Not final. See inflation summary for latest details.

How to calculate the inflation rate for new and used vehicles, 1994-2020

Start with the inflation rate formula:

CPI in 2020 / CPI in 1994 * 1994 USD value = 2020 USD value

Then plug in historical CPI values from above. The CPI for New and used motor vehicles was 95.500 in the year 1994 and 99.548 in 2020:

99.548 / 95.500 * $20,000 = $20,847.70

Therefore, according to U.S. Bureau of Labor Statistics, $20,000 in 1994 has the same "purchasing power" as $20,847.70 in 2020 (in the CPI category of New and used motor vehicles).


Source: U.S. Bureau of Labor Statistics began tracking the Consumer Price Index for New and used motor vehicles in 1993. In addition to new and used vehicles, the index produces monthly data on changes in prices paid by urban consumers for a variety of goods and services.

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