According to the U.S. Bureau of Labor Statistics, prices for new vehicles (chained) are 20.43% higher in 2024 versus 2020 (a $4.09 difference in value).
Between 2020 and 2024: New vehicles (chained) experienced an average inflation rate of 4.76% per year. This rate of change indicates significant inflation. In other words, new vehicles (chained) costing $20 in the year 2020 would cost $24.09 in 2024 for an equivalent purchase. Compared to the overall inflation rate of 4.89% during this same period, inflation for new vehicles (chained) was lower.
In the year 2020: Pricing changed by 0.64%, which is significantly below the average yearly change for new vehicles (chained) during the 2020-2024 time period. Compared to inflation for all items in 2020 (1.23%), inflation for new vehicles (chained) was lower.
Below are calculations of equivalent buying power for New vehicles (chained), over time, for $20 beginning in 2020. Each of the amounts below is equivalent in terms of what it could buy at the time:
| Year | USD Value | Inflation Rate |
|---|---|---|
| 2020 | $20.00 | 0.64% |
| 2021 | $21.15 | 5.76% |
| 2022 | $23.35 | 10.38% |
| 2023 | $24.21 | 3.70% |
| 2024 | $24.09 | -0.52%* |
* 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 vehicles (chained):
| Year | 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 | 99.467 | 98.908 | 97.367 | 95.833 | 95.292 | 95.842 | 95.792 | 95.040 | 93.476 | 94.415 | 96.020 | 98.625 | 100.354 | 101.290 | 101.569 | 102.178 | 102.349 | 102.270 | 101.776 | 102.071 | 102.727 | 108.649 | 119.926 | 124.361 | 123.709 |