Vehicle parts and equipment other than tires price inflation, 2016→2024

Vehicle Parts And Equipment Other Than Tires Inflation Calculator

Prices for Vehicle Parts And Equipment Other Than Tires, 2016-2024 ($20)

According to the U.S. Bureau of Labor Statistics, prices for vehicle parts and equipment other than tires are 29.82% higher in 2024 versus 2016 (a $5.96 difference in value).

Between 2016 and 2024: Vehicle parts and equipment other than tires experienced an average inflation rate of 3.32% per year. This rate of change indicates significant inflation. In other words, vehicle parts and equipment other than tires costing $20 in the year 2016 would cost $25.96 in 2024 for an equivalent purchase. Compared to the overall inflation rate of 3.39% during this same period, inflation for vehicle parts and equipment other than tires was lower.

In the year 2016: Pricing changed by 0.47%, which is below the average yearly change for vehicle parts and equipment other than tires during the 2016-2024 time period. Compared to inflation for all items in 2016 (1.26%), inflation for vehicle parts and equipment other than tires was lower.

Price Inflation for Vehicle parts and equipment other than tires since 1977

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

Years with the largest changes in pricing: 1979 (11.58%), 2022 (10.71%), and 1980 (9.90%).

View price changes for other categories
Bread · Airline fares · New York · Televisions · More

Buying power of $20.00 since 2016

Below are calculations of equivalent buying power for Vehicle parts and equipment other than tires, over time, for $20 beginning in 2016. Each of the amounts below is equivalent in terms of what it could buy at the time:

Year	USD Value	Inflation Rate
2016	$20.00	0.47%
2017	$20.15	0.75%
2018	$20.61	2.31%
2019	$21.07	2.19%
2020	$21.74	3.21%
2021	$22.26	2.37%
2022	$24.64	10.71%
2023	$25.59	3.86%
2024	$25.96	1.46%*

* 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 Vehicle parts and equipment other than tires:

Year	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	74.600	77.185	86.123	94.646	97.923	101.231	99.185	99.569	99.615	100.992	102.638	104.538	106.200	108.415	109.662	109.908	107.677	106.962	106.823	107.292	107.808	107.915	107.869	108.569	110.831	113.069	114.977	115.854	118.338	123.469	127.975	135.436	141.033	143.463	146.507	149.363	153.051	154.815	156.627	157.358	158.538	162.193	165.740	171.055	175.113	193.860	201.345	204.275

Adjust vehicle parts and equipment other than tires prices for inflation

Start with the inflation rate formula:

CPI in 2024 / CPI in 2016 * 2016 USD value = 2024 USD value

Then plug in historical CPI values from above. The CPI for Vehicle parts and equipment other than tires was 157.358 in the year 2016 and 204.275 in 2024:

204.275 / 157.358 * $20 = $25.96

Therefore, according to U.S. Bureau of Labor Statistics, $20 in 2016 has the same "purchasing power" as $25.96 in 2024 (in the CPI category of Vehicle parts and equipment other than tires).

Source: U.S. Bureau of Labor Statistics began tracking the Consumer Price Index for Vehicle parts and equipment other than tires in 1977. In addition to vehicle parts and equipment other than tires, the index produces monthly data on changes in prices paid by urban consumers for a variety of goods and services.