State motor vehicle registration and license fees priced at $20 in 2018 $20.69 in 2020

State Motor Vehicle Registration And License Fees Inflation Calculator

$

Prices for State Motor Vehicle Registration And License Fees, 2018-2020 ($20)

According to the U.S. Bureau of Labor Statistics, prices for state motor vehicle registration and license fees were 3.47% higher in 2020 versus 2018 (a $0.69 difference in value).

Between 2018 and 2020: State motor vehicle registration and license fees experienced an average inflation rate of 1.72% per year. In other words, state motor vehicle registration and license fees costing $20 in the year 2018 would cost $20.69 in 2020 for an equivalent purchase. Compared to the overall inflation rate of 1.46% during this same period, inflation for state motor vehicle registration and license fees was higher.

Price Inflation for State motor vehicle registration and license fees since 2018

Consumer Price Index, U.S. Bureau of Labor Statistics
Years with the largest changes in pricing: 2020 (2.08%), and 2019 (1.36%).

Raw Consumer Price Index data from U.S. Bureau of Labor Statistics for State motor vehicle registration and license fees:

Year 2018 2019 2020
CPI 178.376 180.804 184.562

View price changes for other categories
San Francisco, California · Hospital services · St Louis, Missouri · Parking fees and tolls · More

Buying power of $20 since 2018

Below are calculations of equivalent buying power for State motor vehicle registration and license fees, 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
2018 $20.00 -
2019 $20.27 1.36%
2020 $20.69 2.08%*
* Not final. See inflation summary for latest details.

How to calculate the inflation rate for state motor vehicle registration and license fees, 2018-2020

Start with the inflation rate formula:

CPI in 2020 / CPI in 2018 * 2018 USD value = 2020 USD value

Then plug in historical CPI values from above. The CPI for State motor vehicle registration and license fees was 178.376 in the year 2018 and 184.562 in 2020:

184.562 / 178.376 * $20 = $20.69

Therefore, according to U.S. Bureau of Labor Statistics, $20 in 2018 has the same "purchasing power" as $20.69 in 2020 (in the CPI category of State motor vehicle registration and license fees).


Source: U.S. Bureau of Labor Statistics began tracking the Consumer Price Index for State motor vehicle registration and license fees in 2018. In addition to state motor vehicle registration and license fees, the index produces monthly data on changes in prices paid by urban consumers for a variety of goods and services.

» Read more about inflation and investment.