Transportation services price inflation, 2020→2024

Transportation Services Inflation Calculator

Prices for Transportation Services, 2020-2024 ($20)

According to the U.S. Bureau of Labor Statistics, prices for transportation services are 37.94% higher in 2024 versus 2020 (a $7.59 difference in value).

Between 2020 and 2024: Transportation services experienced an average inflation rate of 8.37% per year. This rate of change indicates significant inflation. In other words, transportation services costing $20 in the year 2020 would cost $27.59 in 2024 for an equivalent purchase. Compared to the overall inflation rate of 4.91% during this same period, inflation for transportation services was significantly higher.

In the year 2020: Pricing changed by -3.74%, which is significantly below the average yearly change for transportation services during the 2020-2024 time period. Compared to inflation for all items in 2020 (1.23%), inflation for transportation services was much lower.

Price Inflation for Transportation services since 1935

Consumer Price Index, U.S. Bureau of Labor Statistics

Years with the largest changes in pricing: 1976 (14.14%), 1980 (14%), and 1948 (12.42%).

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Buying power of $20.00 since 2020

Below are calculations of equivalent buying power for Transportation services, 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	-3.74%
2021	$20.73	3.63%
2022	$22.88	10.37%
2023	$25.33	10.75%
2024	$27.59	8.90%*

* 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 Transportation services:

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	11.800	11.750	11.700	11.780	11.800	11.800	11.840	12.540	12.480	12.500	12.500	12.740	13.200	14.840	16.420	17.460	19.120	20.460	21.720	22.660	22.660	23.000	24.108	25.623	26.515	27.215	27.831	28.254	28.585	29.200	30.338	31.600	32.623	33.931	36.308	40.177	43.423	44.400	44.677	46.323	49.831	56.877	61.477	64.431	69.469	79.192	88.638	96.100	99.115	104.800	110.000	116.308	121.900	128.023	135.608	144.162	151.154	155.662	162.885	168.569	175.854	180.454	185.023	187.869	190.669	196.092	201.862	209.123	216.315	220.562	225.654	230.754	233.731	244.074	251.031	259.823	268.002	272.858	280.002	285.255	291.012	299.427	309.915	321.814	324.971	312.803	324.169	357.779	396.233	431.487

Adjust transportation services prices for inflation

Start with the inflation rate formula:

CPI in 2024 / CPI in 2020 * 2020 USD value = 2024 USD value

Then plug in historical CPI values from above. The CPI for Transportation services was 312.803 in the year 2020 and 431.487 in 2024:

431.487 / 312.803 * $20 = $27.59

Therefore, according to U.S. Bureau of Labor Statistics, $20 in 2020 has the same "purchasing power" as $27.59 in 2024 (in the CPI category of Transportation services).

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