According to the U.S. Bureau of Labor Statistics, prices for new cars are 129.80% higher in 2023 versus 1978 (a $19,470.08 difference in value).
Between 1978 and 2023: Cars experienced an average inflation rate of 1.87% per year. In other words, cars costing $15,000 in the year 1978 would cost $34,470.08 in 2023 for an equivalent purchase. Compared to the overall inflation rate of 3.46% during this same period, inflation for cars was lower.
In the year 1978: Pricing changed by 7.65%, which is significantly above the average yearly change for cars during the 1978-2023 time period. Compared to inflation for all items in 1978 (7.63%), inflation for cars was higher.
Below are calculations of equivalent buying power for Cars, over time, for $15,000 beginning in 1978. Each of the amounts below is equivalent in terms of what it could buy at the time:
| Year | USD Value | Inflation Rate |
|---|---|---|
| 1978 | $15,000.00 | 7.65% |
| 1979 | $16,190.26 | 7.94% |
| 1980 | $17,485.54 | 8.00% |
| 1981 | $18,550.99 | 6.09% |
| 1982 | $19,264.84 | 3.85% |
| 1983 | $19,762.56 | 2.58% |
| 1984 | $20,331.81 | 2.88% |
| 1985 | $20,983.26 | 3.20% |
| 1986 | $21,887.37 | 4.31% |
| 1987 | $22,671.23 | 3.58% |
| 1988 | $23,121.77 | 1.99% |
| 1989 | $23,593.61 | 2.04% |
| 1990 | $23,936.07 | 1.45% |
| 1991 | $24,797.56 | 3.60% |
| 1992 | $25,398.78 | 2.42% |
| 1993 | $26,018.26 | 2.44% |
| 1994 | $26,907.15 | 3.42% |
| 1995 | $27,506.85 | 2.23% |
| 1996 | $27,984.78 | 1.74% |
| 1997 | $28,033.49 | 0.17% |
| 1998 | $27,840.18 | -0.69% |
| 1999 | $27,613.39 | -0.81% |
| 2000 | $27,613.39 | 0.00% ** |
| 2001 | $27,488.58 | -0.45% |
| 2002 | $27,164.38 | -1.18% |
| 2003 | $26,649.92 | -1.89% |
| 2004 | $26,502.28 | -0.55% |
| 2005 | $26,756.47 | 0.96% |
| 2006 | $26,993.91 | 0.89% |
| 2007 | $26,883.49 | -0.41% |
| 2008 | $26,791.61 | -0.34% |
| 2009 | $27,045.65 | 0.95% |
| 2010 | $27,324.60 | 1.03% |
| 2011 | $28,142.13 | 2.99% |
| 2012 | $28,528.34 | 1.37% |
| 2013 | $28,675.86 | 0.52% |
| 2014 | $28,585.95 | -0.31% |
| 2015 | $28,571.42 | -0.05% |
| 2016 | $28,431.86 | -0.49% |
| 2017 | $28,227.82 | -0.72% |
| 2018 | $28,091.07 | -0.48% |
| 2019 | $28,255.74 | 0.59% |
| 2020 | $28,484.28 | 0.81% |
| 2021 | $30,067.70 | 5.56% |
| 2022 | $33,397.02 | 11.07% |
| 2023 | $34,470.08 | 3.21%* |
* 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 |
| 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 | 174.207 |