Private transportation price inflation, 2022→2024

Private Transportation Inflation Calculator

Prices for Private Transportation, 2022-2024 ($20)

According to the U.S. Bureau of Labor Statistics, prices for private transportation are 2.14% higher in 2024 versus 2022 (a $0.43 difference in value).

Between 2022 and 2024: Private transportation experienced an average inflation rate of 1.07% per year. In other words, private transportation costing $20 in the year 2022 would cost $20.43 in 2024 for an equivalent purchase. Compared to the overall inflation rate of 3.47% during this same period, inflation for private transportation was lower.

In the year 2022: Pricing changed by 15.47%, which is significantly above the average yearly change for private transportation during the 2022-2024 time period. Compared to inflation for all items in 2022 (8%), inflation for private transportation was much higher.

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 2022

Below are calculations of equivalent buying power for Private transportation, over time, for $20 beginning in 2022. Each of the amounts below is equivalent in terms of what it could buy at the time:

Year	USD Value	Inflation Rate
2022	$20.00	15.47%
2023	$20.08	0.42%
2024	$20.43	1.71%*

* 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:

Year	1935	1936	1937	1938	1939	1940	1941	1942	1943	1944	1945	1946	1947	1948	1949	1950	1951	1952	1953	1954	1955	1956	1957	1958	1959	1960	1961	1962	1963	1964	1965	1966	1967	1968	1969	1970	1971	1972	1973	1974	1975	1976	1977	1978	1979	1980	1981	1982	1983	1984	1985	1986	1987	1988	1989	1990	1991	1992	1993	1994	1995	1996	1997	1998	1999	2000	2001	2002	2003	2004	2005	2006	2007	2008	2009	2010	2011	2012	2013	2014	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
CPI	14.625	14.883	15.400	15.440	14.900	14.740	15.620	17.740	17.360	17.400	17.300	18.520	20.815	23.038	24.438	24.492	25.585	27.315	27.800	27.138	26.677	27.054	28.623	29.508	30.785	30.608	30.854	31.438	31.569	32.000	32.523	32.915	33.800	34.800	35.985	37.523	39.392	39.685	41.038	46.138	50.592	55.608	59.654	62.485	71.738	84.177	93.746	97.146	99.292	103.585	106.154	101.200	104.238	107.562	112.915	118.815	121.908	124.615	127.515	131.392	136.269	140.023	140.969	137.900	140.477	149.123	150.038	148.769	153.585	159.362	170.192	176.954	180.778	191.039	174.762	188.747	207.641	212.752	212.399	210.994	193.698	189.502	196.635	206.442	205.774	198.661	229.703	265.249	266.372	270.931

Adjust private transportation prices for inflation

Start with the inflation rate formula:

CPI in 2024 / CPI in 2022 * 2022 USD value = 2024 USD value

Then plug in historical CPI values from above. The CPI for Private transportation was 265.249 in the year 2022 and 270.931 in 2024:

270.931 / 265.249 * $20 = $20.43

Therefore, according to U.S. Bureau of Labor Statistics, $20 in 2022 has the same "purchasing power" as $20.43 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.