According to the U.S. Bureau of Labor Statistics, prices for private transportation were 7.47% lower in 2020 versus 2012 (a $1.49 difference in value).
Between 2012 and 2020: Private transportation experienced an average inflation rate of -0.97% per year. In other words, private transportation costing $20 in the year 2012 would cost $18.51 in 2020 for an equivalent purchase. Compared to the overall inflation rate of 1.48% during this same period, inflation for private transportation was lower.
In the year 2012: Pricing changed by 2.46%, which is significantly above the average yearly change for private transportation during the 2012-2020 time period. Compared to inflation for all items in 2012 (2.07%), inflation for private transportation was higher.
Raw Consumer Price Index data from U.S. Bureau of Labor Statistics for Private transportation:
Below are calculations of equivalent buying power for Private transportation, over time, for $20 beginning in 2012. Each of the amounts below is equivalent in terms of what it could buy at the time:
|Year||USD Value||Inflation Rate|