According to the U.S. Bureau of Labor Statistics, prices for private transportation were 3.88% higher in 2020 versus 2016 (a $0.78 difference in value).
Between 2016 and 2020: Private transportation experienced an average inflation rate of 0.96% per year. In other words, private transportation costing $20 in the year 2016 would cost $20.78 in 2020 for an equivalent purchase. Compared to the overall inflation rate of 1.78% during this same period, inflation for private transportation was lower.
In the year 2016: Pricing changed by -2.17%, which is significantly below the average yearly change for private transportation during the 2016-2020 time period. Compared to inflation for all items in 2016 (1.26%), inflation for private transportation was much lower.
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 2016. Each of the amounts below is equivalent in terms of what it could buy at the time:
|Year||USD Value||Inflation Rate|