According to the U.S. Bureau of Labor Statistics, prices for new cars and trucks were 1.48% higher in 2021 versus 2016 (a $295 difference in value).
Between 2016 and 2021: New cars and trucks experienced an average inflation rate of 0.29% per year. In other words, new cars and trucks costing $20,000 in the year 2016 would cost $20,295 in 2021 for an equivalent purchase. Compared to the overall inflation rate of 1.93% during this same period, inflation for new cars and trucks was lower.
In the year 2016: Pricing changed by 0.12%, which is below the average yearly change for new cars and trucks during the 2016-2021 time period. Compared to inflation for all items in 2016 (1.26%), inflation for new cars and trucks was lower.
Raw Consumer Price Index data from U.S. Bureau of Labor Statistics for New cars and trucks:
Below are calculations of equivalent buying power for New cars and trucks, over time, for $20000 beginning in 2016. Each of the amounts below is equivalent in terms of what it could buy at the time:
|Year||USD Value||Inflation Rate|