According to the U.S. Bureau of Labor Statistics, prices for new vehicles were 0.66% higher in 2020 versus 2018 (a $132.12 difference in value).
Between 2018 and 2020: Vehicles experienced an average inflation rate of 0.33% per year. In other words, vehicles costing $20,000 in the year 2018 would cost $20,132.12 in 2020 for an equivalent purchase. Compared to the overall inflation rate of 1.37% during this same period, inflation for vehicles was lower.
In the year 2018: Pricing changed by -0.48%, which is below the average yearly change for vehicles during the 2018-2020 time period. Compared to inflation for all items in 2018 (2.44%), 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 2018. Each of the amounts below is equivalent in terms of what it could buy at the time:
|Year||USD Value||Inflation Rate|