New cars and trucks priced at $20,000 in 2008 $22,480.95 in 2021

New Cars And Trucks Inflation Calculator

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Prices for New Cars And Trucks, 2008-2021 ($20,000)

According to the U.S. Bureau of Labor Statistics, prices for new cars and trucks were 12.40% higher in 2021 versus 2008 (a $2,480.95 difference in value).

Between 2008 and 2021: New cars and trucks experienced an average inflation rate of 0.90% per year. In other words, new cars and trucks costing $20,000 in the year 2008 would cost $22,480.95 in 2021 for an equivalent purchase. Compared to the overall inflation rate of 1.65% during this same period, inflation for new cars and trucks was lower.

In the year 2008: Pricing changed by -1.50%, which is below the average yearly change for new cars and trucks during the 2008-2021 time period. Compared to inflation for all items in 2008 (3.84%), inflation for new cars and trucks was much 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: 2011 (2.83%), 2021 (2.22%), and 2010 (1.77%).

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

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
CPI 100.000 99.538 99.131 99.023 98.615 97.138 95.631 95.054 95.569 95.362 94.427 93.012 93.983 95.651 98.359 99.970 101.051 101.383 102.005 102.125 101.858 101.372 101.752 102.284 104.550

View price changes for other categories
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Buying power of $20000 since 2008

Below are calculations of equivalent buying power for New cars and trucks, over time, for $20000 beginning in 2008. Each of the amounts below is equivalent in terms of what it could buy at the time:

Year USD Value Inflation Rate
2008 $20,000.00 -1.50%
2009 $20,208.77 1.04%
2010 $20,567.34 1.77%
2011 $21,149.72 2.83%
2012 $21,496.01 1.64%
2013 $21,728.47 1.08%
2014 $21,799.96 0.33%
2015 $21,933.62 0.61%
2016 $21,959.56 0.12%
2017 $21,902.13 -0.26%
2018 $21,797.53 -0.48%
2019 $21,879.29 0.38%
2020 $21,993.67 0.52%
2021 $22,480.95 2.22%*
* Not final. See inflation summary for latest details.

How to calculate the inflation rate for new cars and trucks, 2008-2021

Start with the inflation rate formula:

CPI in 2021 / CPI in 2008 * 2008 USD value = 2021 USD value

Then plug in historical CPI values from above. The CPI for New cars and trucks was 93.012 in the year 2008 and 104.550 in 2021:

104.550 / 93.012 * $20,000 = $22,480.95

Therefore, according to U.S. Bureau of Labor Statistics, $20,000 in 2008 has the same "purchasing power" as $22,480.95 in 2021 (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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