According to the U.S. Bureau of Labor Statistics, prices for new vehicles were 0.18% higher in 2020 versus 2017 (a $35.47 difference in value).
Between 2017 and 2020: Vehicles experienced an average inflation rate of 0.06% per year. In other words, vehicles costing $20,000 in the year 2017 would cost $20,035.47 in 2020 for an equivalent purchase. Compared to the overall inflation rate of 1.73% during this same period, inflation for vehicles was lower.
In the year 2017: Pricing changed by -0.25%, which is below the average yearly change for vehicles during the 2017-2020 time period. Compared to inflation for all items in 2017 (2.13%), 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 2017. Each of the amounts below is equivalent in terms of what it could buy at the time:
|Year||USD Value||Inflation Rate|