Used cars and trucks price inflation, 2022→2024

Used Cars And Trucks Inflation Calculator

Prices for Used Cars And Trucks, 2022-2024 ($20)

According to the U.S. Bureau of Labor Statistics, prices for used cars and trucks are 12.70% lower in 2024 versus 2022 (a $2.54 difference in value).

Between 2022 and 2024: Used cars and trucks experienced an average inflation rate of -6.56% per year. This rate of change indicates significant deflation. In other words, used cars and trucks costing $20 in the year 2022 would cost $17.46 in 2024 for an equivalent purchase. Compared to the overall inflation rate of 3.47% during this same period, inflation for used cars and trucks was significantly lower.

In the year 2022: Pricing changed by 12.75%, which is significantly above the average yearly change for used cars and trucks during the 2022-2024 time period. Compared to inflation for all items in 2022 (8%), inflation for used cars and trucks was much higher.

Price Inflation for Used cars and trucks since 1952

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

Years with the largest changes in pricing: 2021 (26.63%), 1981 (23.43%), and 1975 (19.52%).

View price changes for other categories
Airline fares · San Francisco, California · Housing · Dental services · More

Buying power of $20.00 since 2022

Below are calculations of equivalent buying power for Used cars and trucks, 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	12.75%
2023	$18.57	-7.13%
2024	$17.46	-5.99%*

* 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 Used cars and trucks:

Year	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	28.400	26.731	22.738	21.477	20.685	23.154	24.008	26.808	25.054	26.015	28.385	28.731	29.954	29.777	29.031	29.954	30.717	30.877	31.223	33.008	33.062	35.192	36.692	43.854	50.285	54.738	55.846	60.208	62.315	76.915	88.777	98.723	112.515	113.708	108.785	113.092	117.969	120.431	117.569	118.123	123.169	133.885	141.662	156.454	157.038	151.123	150.608	152.031	155.762	158.700	151.977	142.915	133.323	139.438	139.992	135.747	133.951	126.973	143.128	149.011	150.330	149.887	149.094	147.120	143.488	138.259	138.385	139.763	144.221	182.628	205.908	191.222	179.760

Adjust used cars and trucks 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 Used cars and trucks was 205.908 in the year 2022 and 179.760 in 2024:

179.760 / 205.908 * $20 = $17.46

Therefore, according to U.S. Bureau of Labor Statistics, $20 in 2022 has the same "purchasing power" as $17.46 in 2024 (in the CPI category of Used cars and trucks).

Source: U.S. Bureau of Labor Statistics began tracking the Consumer Price Index for Used cars and trucks in 1952. In addition to used cars and trucks, the index produces monthly data on changes in prices paid by urban consumers for a variety of goods and services.