Cars priced at $15,000 in 2020 $17,587.08 in 2022

Cars Inflation Calculator


Prices for Cars, 2020-2022 ($15,000)

According to the U.S. Bureau of Labor Statistics, prices for new cars are 17.25% higher in 2022 versus 2020 (a $2,587.08 difference in value).

Between 2020 and 2022: Cars experienced an average inflation rate of 8.28% per year. This rate of change indicates significant inflation. In other words, cars costing $15,000 in the year 2020 would cost $17,587.08 in 2022 for an equivalent purchase. Compared to the overall inflation rate of 6.34% during this same period, inflation for cars was higher.

In the year 2020: Pricing changed by 0.81%, which is significantly below the average yearly change for cars during the 2020-2022 time period. Compared to inflation for all items in 2020 (1.23%), inflation for cars was lower.

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%).

View price changes for other categories
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Buying power of $15,000.00 since 2020

Below are calculations of equivalent buying power for Cars, over time, for $15,000 beginning in 2020. 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:


Adjust cars prices for inflation

Start with the inflation rate formula:

CPI in 2022 / CPI in 2020 * 2020 USD value = 2022 USD value

Then plug in historical CPI values from above. The CPI for New cars was 143.955 in the year 2020 and 168.783 in 2022:

168.783 / 143.955 * $15,000 = $17,587.08

Therefore, according to U.S. Bureau of Labor Statistics, $15,000 in 2020 has the same "purchasing power" as $17,587.08 in 2022 (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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