According to the U.S. Bureau of Labor Statistics, prices for new cars are 271.64% higher in 2024 versus 1954 (a $40,745.81 difference in value).
Between 1954 and 2024: Cars experienced an average inflation rate of 1.89% per year. In other words, cars costing $15,000 in the year 1954 would cost $55,745.81 in 2024 for an equivalent purchase. Compared to the overall inflation rate of 3.57% during this same period, inflation for cars was lower.
In the year 1954: Pricing changed by -1.56%, which is significantly below the average yearly change for cars during the 1954-2024 time period. Compared to inflation for all items in 1954 (0.34%), inflation for cars was lower.
Below are calculations of equivalent buying power for Cars, over time, for $15,000 beginning in 1954. Each of the amounts below is equivalent in terms of what it could buy at the time:
| Year | USD Value | Inflation Rate |
|---|---|---|
| 1954 | $15,000.00 | -1.56% |
| 1955 | $14,473.42 | -3.51% |
| 1956 | $14,873.32 | 2.76% |
| 1957 | $15,650.77 | 5.23% |
| 1958 | $16,154.99 | 3.22% |
| 1959 | $16,852.96 | 4.32% |
| 1960 | $16,631.89 | -1.31% |
| 1961 | $16,629.41 | -0.01% |
| 1962 | $16,567.31 | -0.37% |
| 1963 | $16,462.99 | -0.63% |
| 1964 | $16,428.22 | -0.21% |
| 1965 | $16,055.64 | -2.27% |
| 1966 | $15,760.06 | -1.84% |
| 1967 | $15,906.61 | 0.93% |
| 1968 | $16,356.18 | 2.83% |
| 1969 | $16,619.47 | 1.61% |
| 1970 | $17,123.70 | 3.03% |
| 1971 | $17,826.63 | 4.11% |
| 1972 | $17,672.63 | -0.86% |
| 1973 | $17,682.56 | 0.06% |
| 1974 | $18,705.91 | 5.79% |
| 1975 | $20,310.48 | 8.58% |
| 1976 | $21,597.12 | 6.33% |
| 1977 | $22,739.69 | 5.29% |
| 1978 | $24,478.39 | 7.65% |
| 1979 | $26,420.77 | 7.94% |
| 1980 | $28,534.53 | 8.00% |
| 1981 | $30,273.22 | 6.09% |
| 1982 | $31,438.15 | 3.85% |
| 1983 | $32,250.37 | 2.58% |
| 1984 | $33,179.33 | 2.88% |
| 1985 | $34,242.42 | 3.20% |
| 1986 | $35,717.83 | 4.31% |
| 1987 | $36,997.02 | 3.58% |
| 1988 | $37,732.24 | 1.99% |
| 1989 | $38,502.24 | 2.04% |
| 1990 | $39,061.10 | 1.45% |
| 1991 | $40,466.96 | 3.60% |
| 1992 | $41,448.09 | 2.42% |
| 1993 | $42,459.02 | 2.44% |
| 1994 | $43,909.59 | 3.42% |
| 1995 | $44,888.23 | 2.23% |
| 1996 | $45,668.16 | 1.74% |
| 1997 | $45,747.64 | 0.17% |
| 1998 | $45,432.19 | -0.69% |
| 1999 | $45,062.10 | -0.81% |
| 2000 | $45,062.10 | 0.00% ** |
| 2001 | $44,858.42 | -0.45% |
| 2002 | $44,329.36 | -1.18% |
| 2003 | $43,489.82 | -1.89% |
| 2004 | $43,248.88 | -0.55% |
| 2005 | $43,663.69 | 0.96% |
| 2006 | $44,051.17 | 0.89% |
| 2007 | $43,870.96 | -0.41% |
| 2008 | $43,721.04 | -0.34% |
| 2009 | $44,135.59 | 0.95% |
| 2010 | $44,590.81 | 1.03% |
| 2011 | $45,924.94 | 2.99% |
| 2012 | $46,555.19 | 1.37% |
| 2013 | $46,795.93 | 0.52% |
| 2014 | $46,649.21 | -0.31% |
| 2015 | $46,625.48 | -0.05% |
| 2016 | $46,397.74 | -0.49% |
| 2017 | $46,064.78 | -0.72% |
| 2018 | $45,841.60 | -0.48% |
| 2019 | $46,110.33 | 0.59% |
| 2020 | $46,483.28 | 0.81% |
| 2021 | $49,067.26 | 5.56% |
| 2022 | $54,500.35 | 11.07% |
| 2023 | $56,384.30 | 3.46% |
| 2024 | $55,745.81 | -1.13%* |
* 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:
| Year | 1935 | 1936 | 1937 | 1938 | 1939 | 1940 | 1941 | 1942 | 1943 | 1944 | 1945 | 1946 | 1947 | 1948 | 1949 | 1950 | 1951 | 1952 | 1953 | 1954 | 1955 | 1956 | 1957 | 1958 | 1959 | 1960 | 1961 | 1962 | 1963 | 1964 | 1965 | 1966 | 1967 | 1968 | 1969 | 1970 | 1971 | 1972 | 1973 | 1974 | 1975 | 1976 | 1977 | 1978 | 1979 | 1980 | 1981 | 1982 | 1983 | 1984 | 1985 | 1986 | 1987 | 1988 | 1989 | 1990 | 1991 | 1992 | 1993 | 1994 | 1995 | 1996 | 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 | 2022 | 2023 | 2024 |
| CPI | 20.300 | 20.400 | 20.800 | 21.800 | 21.300 | 21.300 | 23.000 | 23.000 | 23.000 | 23.000 | 23.000 | 23.000 | 34.450 | 37.540 | 40.900 | 41.120 | 43.320 | 46.900 | 47.192 | 46.454 | 44.823 | 46.062 | 48.469 | 50.031 | 52.192 | 51.508 | 51.500 | 51.308 | 50.985 | 50.877 | 49.723 | 48.808 | 49.262 | 50.654 | 51.469 | 53.031 | 55.208 | 54.731 | 54.762 | 57.931 | 62.900 | 66.885 | 70.423 | 75.808 | 81.823 | 88.369 | 93.754 | 97.362 | 99.877 | 102.754 | 106.046 | 110.615 | 114.577 | 116.854 | 119.238 | 120.969 | 125.323 | 128.362 | 131.492 | 135.985 | 139.015 | 141.431 | 141.677 | 140.700 | 139.554 | 139.554 | 138.923 | 137.285 | 134.685 | 133.938 | 135.223 | 136.423 | 135.865 | 135.401 | 136.685 | 138.094 | 142.226 | 144.178 | 144.923 | 144.469 | 144.396 | 143.690 | 142.659 | 141.968 | 142.800 | 143.955 | 151.958 | 168.783 | 174.618 | 172.641 |