Trucks price inflation, 2016→2024

Trucks Inflation Calculator

Prices for Trucks, 2016-2024 ($25,000)

According to the U.S. Bureau of Labor Statistics, prices for new trucks are 21.42% higher in 2024 versus 2016 (a $5,354.62 difference in value).

Between 2016 and 2024: Trucks experienced an average inflation rate of 2.46% per year. This rate of change indicates significant inflation. In other words, trucks costing $25,000 in the year 2016 would cost $30,354.62 in 2024 for an equivalent purchase. Compared to the overall inflation rate of 3.39% during this same period, inflation for trucks was lower.

In the year 2016: Pricing changed by 0.64%, which is below the average yearly change for trucks during the 2016-2024 time period. Compared to inflation for all items in 2016 (1.26%), inflation for trucks was lower.

Price Inflation for New trucks since 1983

Consumer Price Index, U.S. Bureau of Labor Statistics

Years with the largest changes in pricing: 2022 (10.18%), 2021 (6.09%), and 1991 (4.47%).

View price changes for other categories
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Buying power of $25,000.00 since 2016

Below are calculations of equivalent buying power for Trucks, over time, for $25,000 beginning in 2016. Each of the amounts below is equivalent in terms of what it could buy at the time:

Year	USD Value	Inflation Rate
2016	$25,000.00	0.64%
2017	$25,022.05	0.09%
2018	$24,895.93	-0.50%
2019	$24,971.41	0.30%
2020	$25,108.22	0.55%
2021	$26,638.32	6.09%
2022	$29,350.14	10.18%
2023	$30,489.47	3.88%
2024	$30,354.62	-0.44%*

* 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 trucks:

Year	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	100.000	101.285	105.538	110.169	112.231	113.531	117.008	121.562	126.992	130.915	135.738	141.677	145.923	149.515	151.423	151.054	152.000	151.654	150.723	147.769	146.069	145.000	145.300	142.885	140.714	137.117	138.840	142.695	146.547	149.393	151.848	153.563	155.441	156.436	156.574	155.785	156.257	157.113	166.688	183.657	190.786	189.942

Adjust trucks prices for inflation

Start with the inflation rate formula:

CPI in 2024 / CPI in 2016 * 2016 USD value = 2024 USD value

Then plug in historical CPI values from above. The CPI for New trucks was 156.436 in the year 2016 and 189.942 in 2024:

189.942 / 156.436 * $25,000 = $30,354.62

Therefore, according to U.S. Bureau of Labor Statistics, $25,000 in 2016 has the same "purchasing power" as $30,354.62 in 2024 (in the CPI category of New trucks).

Source: U.S. Bureau of Labor Statistics began tracking the Consumer Price Index for New trucks in 1983. In addition to trucks, the index produces monthly data on changes in prices paid by urban consumers for a variety of goods and services.