According to the U.S. Bureau of Labor Statistics, prices for new cars and trucks are 14.83% higher in 2022 versus 2018 (a $2,965.22 difference in value).
Between 2018 and 2022: New cars and trucks experienced an average inflation rate of 3.52% per year. This rate of change indicates significant inflation. In other words, new cars and trucks costing $20,000 in the year 2018 would cost $22,965.22 in 2022 for an equivalent purchase. Compared to the overall inflation rate of 3.69% during this same period, inflation for new cars and trucks was lower.
In the year 2018: Pricing changed by -0.48%, which is significantly below the average yearly change for new cars and trucks during the 2018-2022 time period. Compared to inflation for all items in 2018 (2.44%), inflation for new cars and trucks was lower.
Below are calculations of equivalent buying power for New cars and trucks, over time, for $20,000 beginning in 2018. Each of the amounts below is equivalent in terms of what it could buy at the time:
|Year||USD Value||Inflation Rate|
* 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 New cars and trucks: