According to the U.S. Bureau of Labor Statistics, prices for private transportation were 4.64% lower in 2020 versus 2018 (a $0.93 difference in value).
Between 2018 and 2020: Private transportation experienced an average inflation rate of -2.35% per year. This rate of change indicates significant deflation. In other words, private transportation costing $20 in the year 2018 would cost $19.07 in 2020 for an equivalent purchase. Compared to the overall inflation rate of 1.46% during this same period, inflation for private transportation was significantly lower.
In the year 2018: Pricing changed by 4.99%, which is significantly above the average yearly change for private transportation during the 2018-2020 time period. Compared to inflation for all items in 2018 (2.44%), 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 2018. Each of the amounts below is equivalent in terms of what it could buy at the time:
|Year||USD Value||Inflation Rate|