New cars and trucks priced at $20,000 in 2021 $21,497.05 in 2022

New Cars And Trucks Inflation Calculator


Prices for New Cars And Trucks, 2021-2022 ($20,000)

According to the U.S. Bureau of Labor Statistics, prices for new cars and trucks are 7.49% higher in 2022 versus 2021 (a $1,497.05 difference in value).

Between 2021 and 2022: New cars and trucks experienced an average inflation rate of 7.49% per year. This rate of change indicates significant inflation. In other words, new cars and trucks costing $20,000 in the year 2021 would cost $21,497.05 in 2022 for an equivalent purchase. Compared to the overall inflation rate of 8.00% during this same period, inflation for new cars and trucks was lower.

In the year 2021: Pricing changed by 5.88%, which is below the average yearly change for new cars and trucks during the 2021-2022 time period. Compared to inflation for all items in 2021 (4.70%), inflation for new cars and trucks was higher.

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%).

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Buying power of $20,000.00 since 2021

Below are calculations of equivalent buying power for New cars and trucks, over time, for $20,000 beginning in 2021. Each of the amounts below is equivalent in terms of what it could buy at the time:

YearUSD ValueInflation 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:


Adjust new cars and trucks prices for inflation

Start with the inflation rate formula:

CPI in 2022 / CPI in 2021 * 2021 USD value = 2022 USD value

Then plug in historical CPI values from above. The CPI for New cars and trucks was 108.295 in the year 2021 and 116.401 in 2022:

116.401 / 108.295 * $20,000 = $21,497.05

Therefore, according to U.S. Bureau of Labor Statistics, $20,000 in 2021 has the same "purchasing power" as $21,497.05 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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