According to the U.S. Bureau of Labor Statistics, prices for new vehicles were 0.67% higher in 2020 versus 2014 (a $133.72 difference in value).
Between 2014 and 2020: Vehicles experienced an average inflation rate of 0.11% per year. In other words, vehicles costing $20,000 in the year 2014 would cost $20,133.72 in 2020 for an equivalent purchase. Compared to the overall inflation rate of 1.48% during this same period, inflation for vehicles was lower.
In the year 2014: Pricing changed by 0.34%, which is above the average yearly change for vehicles during the 2014-2020 time period. Compared to inflation for all items in 2014 (1.62%), inflation for vehicles was lower.
Raw Consumer Price Index data from U.S. Bureau of Labor Statistics for New vehicles:
Below are calculations of equivalent buying power for Vehicles, over time, for $20000 beginning in 2014. Each of the amounts below is equivalent in terms of what it could buy at the time:
|Year||USD Value||Inflation Rate|