Private transportation priced at $20 in 2016 → $28.56 in 2024

Private Transportation Inflation Calculator

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Prices for Private Transportation, 2016-2024 ($20)

According to the U.S. Bureau of Labor Statistics, prices for private transportation are 42.81% higher in 2024 versus 2016 (a $8.56 difference in value).

Between 2016 and 2024: Private transportation experienced an average inflation rate of 4.55% per year. This rate of change indicates significant inflation. In other words, private transportation costing $20 in the year 2016 would cost $28.56 in 2024 for an equivalent purchase. Compared to the overall inflation rate of 3.40% during this same period, inflation for private transportation was higher.

In the year 2016: Pricing changed by -2.17%, which is significantly below the average yearly change for private transportation during the 2016-2024 time period. Compared to inflation for all items in 2016 (1.26%), inflation for private transportation was much lower.

Price Inflation for Private transportation since 1935

Consumer Price Index, U.S. Bureau of Labor Statistics
Years with the largest changes in pricing: 1980 (17.34%), 2021 (15.63%), and 2022 (15.47%).
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Buying power of $20.00 since 2016

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:

YearUSD ValueInflation Rate
2016$20.00-2.17%
2017$20.753.76%
2018$21.794.99%
2019$21.72-0.32%
2020$20.97-3.46%
2021$24.2415.63%
2022$27.9915.47%
2023$28.110.42%
2024$28.561.59%*

* Not final. See inflation summary for latest details.
** Extended periods of 0% inflation usually indicate incomplete underlying data. This can manifest as a sharp increase in inflation later on.

Raw Consumer Price Index data from U.S. Bureau of Labor Statistics for Private transportation:

Year193519361937193819391940194119421943194419451946194719481949195019511952195319541955195619571958195919601961196219631964196519661967196819691970197119721973197419751976197719781979198019811982198319841985198619871988198919901991199219931994199519961997199819992000200120022003200420052006200720082009201020112012201320142015201620172018201920202021202220232024
CPI14.62514.88315.40015.44014.90014.74015.62017.74017.36017.40017.30018.52020.81523.03824.43824.49225.58527.31527.80027.13826.67727.05428.62329.50830.78530.60830.85431.43831.56932.00032.52332.91533.80034.80035.98537.52339.39239.68541.03846.13850.59255.60859.65462.48571.73884.17793.74697.14699.292103.585106.154101.200104.238107.562112.915118.815121.908124.615127.515131.392136.269140.023140.969137.900140.477149.123150.038148.769153.585159.362170.192176.954180.778191.039174.762188.747207.641212.752212.399210.994193.698189.502196.635206.442205.774198.661229.703265.249266.372270.619

Adjust private transportation prices for inflation

Start with the inflation rate formula:

CPI in 2024 / CPI in 2016 * 2016 USD value = 2024 USD value

Then plug in historical CPI values from above. The CPI for Private transportation was 189.502 in the year 2016 and 270.619 in 2024:

270.619 / 189.502 * $20 = $28.56

Therefore, according to U.S. Bureau of Labor Statistics, $20 in 2016 has the same "purchasing power" as $28.56 in 2024 (in the CPI category of Private transportation).

Source: U.S. Bureau of Labor Statistics began tracking the Consumer Price Index for Private transportation in 1935. In addition to private transportation, the index produces monthly data on changes in prices paid by urban consumers for a variety of goods and services.

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