New cars and trucks priced at $20,000 in 1997 $23,280.27 in 2022

New Cars And Trucks Inflation Calculator

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Prices for New Cars And Trucks, 1997-2022 ($20,000)

According to the U.S. Bureau of Labor Statistics, prices for new cars and trucks are 16.40% higher in 2022 versus 1997 (a $3,280.27 difference in value).

Between 1997 and 2022: New cars and trucks experienced an average inflation rate of 0.61% per year. In other words, new cars and trucks costing $20,000 in the year 1997 would cost $23,280.27 in 2022 for an equivalent purchase. Compared to the overall inflation rate of 2.39% during this same period, inflation for new cars and trucks was lower.

Price Inflation for New cars and trucks since 1997

Consumer Price Index, U.S. Bureau of Labor Statistics
Years with the largest changes in pricing: 2022 (7.49%), 2021 (5.88%), and 2011 (2.83%).

View price changes for other categories
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Buying power of $20,000.00 since 1997

Below are calculations of equivalent buying power for New cars and trucks, over time, for $20,000 beginning in 1997. Each of the amounts below is equivalent in terms of what it could buy at the time:

YearUSD ValueInflation Rate
1997$20,000.00-
1998$19,907.69-0.46%
1999$19,826.15-0.41%
2000$19,804.62-0.11%
2001$19,723.08-0.41%
2002$19,427.69-1.50%
2003$19,126.15-1.55%
2004$19,010.77-0.60%
2005$19,113.850.54%
2006$19,072.31-0.22%
2007$18,885.48-0.98%
2008$18,602.45-1.50%
2009$18,796.631.04%
2010$19,130.141.77%
2011$19,671.832.83%
2012$19,993.921.64%
2013$20,210.141.08%
2014$20,276.630.33%
2015$20,400.950.61%
2016$20,425.080.12%
2017$20,371.66-0.26%
2018$20,274.37-0.48%
2019$20,350.420.38%
2020$20,456.800.52%
2021$21,659.035.88%
2022$23,280.277.49%*
* Not final. See inflation summary for latest details.

Raw Consumer Price Index data from U.S. Bureau of Labor Statistics for New cars and trucks:

Year19971998199920002001200220032004200520062007200820092010201120122013201420152016201720182019202020212022
CPI100.00099.53899.13199.02398.61597.13895.63195.05495.56995.36294.42793.01293.98395.65198.35999.970101.051101.383102.005102.125101.858101.372101.752102.284108.295116.401

Adjust new cars and trucks prices for inflation

Start with the inflation rate formula:

CPI in 2022 / CPI in 1997 * 1997 USD value = 2022 USD value

Then plug in historical CPI values from above. The CPI for New cars and trucks was 100.000 in the year 1997 and 116.401 in 2022:

116.401 / 100.000 * $20,000 = $23,280.27

Therefore, according to U.S. Bureau of Labor Statistics, $20,000 in 1997 has the same "purchasing power" as $23,280.27 in 2022 (in the CPI category of New cars and trucks).


Source: U.S. Bureau of Labor Statistics began tracking the Consumer Price Index for New cars and trucks in 1997. In addition to new cars and trucks, the index produces monthly data on changes in prices paid by urban consumers for a variety of goods and services.

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