Cars priced at $15,000 in 1978 $34,470.08 in 2023

Cars Inflation Calculator

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Prices for Cars, 1978-2023 ($15,000)

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.

Price Inflation for New cars since 1935

Consumer Price Index, U.S. Bureau of Labor Statistics
Years with the largest changes in pricing: 1947 (49.78%), 2022 (11.07%), and 1948 (8.97%).

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Buying power of $15,000.00 since 1978

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:

YearUSD ValueInflation Rate
1978$15,000.007.65%
1979$16,190.267.94%
1980$17,485.548.00%
1981$18,550.996.09%
1982$19,264.843.85%
1983$19,762.562.58%
1984$20,331.812.88%
1985$20,983.263.20%
1986$21,887.374.31%
1987$22,671.233.58%
1988$23,121.771.99%
1989$23,593.612.04%
1990$23,936.071.45%
1991$24,797.563.60%
1992$25,398.782.42%
1993$26,018.262.44%
1994$26,907.153.42%
1995$27,506.852.23%
1996$27,984.781.74%
1997$28,033.490.17%
1998$27,840.18-0.69%
1999$27,613.39-0.81%
2000$27,613.390.00% **
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$26,756.470.96%
2006$26,993.910.89%
2007$26,883.49-0.41%
2008$26,791.61-0.34%
2009$27,045.650.95%
2010$27,324.601.03%
2011$28,142.132.99%
2012$28,528.341.37%
2013$28,675.860.52%
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$28,255.740.59%
2020$28,484.280.81%
2021$30,067.705.56%
2022$33,397.0211.07%
2023$34,470.083.21%*

* 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:

Year19351936193719381939194019411942194319441945194619471948194919501951195219531954195519561957195819591960196119621963196419651966196719681969197019711972197319741975197619771978197919801981198219831984198519861987198819891990199119921993199419951996199719981999200020012002200320042005200620072008200920102011201220132014201520162017201820192020202120222023
CPI20.30020.40020.80021.80021.30021.30023.00023.00023.00023.00023.00023.00034.45037.54040.90041.12043.32046.90047.19246.45444.82346.06248.46950.03152.19251.50851.50051.30850.98550.87749.72348.80849.26250.65451.46953.03155.20854.73154.76257.93162.90066.88570.42375.80881.82388.36993.75497.36299.877102.754106.046110.615114.577116.854119.238120.969125.323128.362131.492135.985139.015141.431141.677140.700139.554139.554138.923137.285134.685133.938135.223136.423135.865135.401136.685138.094142.226144.178144.923144.469144.396143.690142.659141.968142.800143.955151.958168.783174.207

Adjust cars prices for inflation

Start with the inflation rate formula:

CPI in 2023 / CPI in 1978 * 1978 USD value = 2023 USD value

Then plug in historical CPI values from above. The CPI for New cars was 75.808 in the year 1978 and 174.207 in 2023:

174.207 / 75.808 * $15,000 = $34,470.08

Therefore, according to U.S. Bureau of Labor Statistics, $15,000 in 1978 has the same "purchasing power" as $34,470.08 in 2023 (in the CPI category of New cars).


Source: U.S. Bureau of Labor Statistics began tracking the Consumer Price Index for New cars in 1935. In addition to cars, the index produces monthly data on changes in prices paid by urban consumers for a variety of goods and services.

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