According to the U.S. Bureau of Labor Statistics, prices for state motor vehicle registration and license fees are 6.73% higher in 2024 versus 2020 (a $1.35 difference in value).
Between 2020 and 2024: State motor vehicle registration and license fees experienced an average inflation rate of 1.64% per year. In other words, state motor vehicle registration and license fees costing $20 in the year 2020 would cost $21.35 in 2024 for an equivalent purchase. Compared to the overall inflation rate of 4.91% during this same period, inflation for state motor vehicle registration and license fees was significantly lower.
In the year 2020: Pricing changed by 2.35%, which is above the average yearly change for state motor vehicle registration and license fees during the 2020-2024 time period. Compared to inflation for all items in 2020 (1.23%), inflation for state motor vehicle registration and license fees was higher.
Below are calculations of equivalent buying power for State motor vehicle registration and license fees, over time, for $20 beginning in 2020. Each of the amounts below is equivalent in terms of what it could buy at the time:
Year | USD Value | Inflation Rate |
---|---|---|
2020 | $20.00 | 2.35% |
2021 | $20.13 | 0.65% |
2022 | $20.43 | 1.47% |
2023 | $20.97 | 2.68% |
2024 | $21.35 | 1.77%* |
* 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 State motor vehicle registration and license fees:
Year | 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 | 100.000 | 101.085 | 101.792 | 105.069 | 105.615 | 108.454 | 112.723 | 131.331 | 133.185 | 137.323 | 138.785 | 141.931 | 152.088 | 164.926 | 165.856 | 166.691 | 167.819 | 168.286 | 169.527 | 173.000 | 175.848 | 178.376 | 180.804 | 185.058 | 186.268 | 189.011 | 194.071 | 197.508 |