New vehicles (chained) price inflation, 1999→2023

New Vehicles (chained) Inflation Calculator

Prices for New Vehicles (chained), 1999-2023 ($20)

According to the U.S. Bureau of Labor Statistics, prices for new vehicles (chained) are 23.82% higher in 2023 versus 1999 (a $4.76 difference in value).

Between 1999 and 2023: New vehicles (chained) experienced an average inflation rate of 0.89% per year. In other words, new vehicles (chained) costing $20 in the year 1999 would cost $24.76 in 2023 for an equivalent purchase. Compared to the overall inflation rate of 2.50% during this same period, inflation for new vehicles (chained) was lower.

Price Inflation for New vehicles (chained) since 1999

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

Years with the largest changes in pricing: 2022 (10.38%), 2021 (5.76%), and 2023 (3.24%).

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Buying power of $20.00 since 1999

Below are calculations of equivalent buying power for New vehicles (chained), over time, for $20 beginning in 1999. Each of the amounts below is equivalent in terms of what it could buy at the time:

Year	USD Value	Inflation Rate
1999	$20.00	-
2000	$19.89	-0.53%
2001	$19.78	-0.56%
2002	$19.47	-1.56%
2003	$19.17	-1.57%
2004	$19.06	-0.57%
2005	$19.17	0.58%
2006	$19.16	-0.05%
2007	$19.01	-0.78%
2008	$18.70	-1.65%
2009	$18.88	1.00%
2010	$19.20	1.70%
2011	$19.73	2.71%
2012	$20.07	1.75%
2013	$20.26	0.93%
2014	$20.31	0.28%
2015	$20.44	0.60%
2016	$20.47	0.17%
2017	$20.45	-0.08%
2018	$20.36	-0.48%
2019	$20.41	0.29%
2020	$20.55	0.64%
2021	$21.73	5.76%
2022	$23.99	10.38%
2023	$24.76	3.24%*

* 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 New vehicles (chained):

Year	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
CPI	100.000	99.467	98.908	97.367	95.833	95.292	95.842	95.792	95.040	93.476	94.415	96.020	98.625	100.354	101.290	101.569	102.178	102.349	102.270	101.776	102.071	102.727	108.649	119.932	123.816

Adjust new vehicles (chained) prices for inflation

Start with the inflation rate formula:

CPI in 2023 / CPI in 1999 * 1999 USD value = 2023 USD value

Then plug in historical CPI values from above. The CPI for New vehicles (chained) was 100.000 in the year 1999 and 123.816 in 2023:

123.816 / 100.000 * $20 = $24.76

Therefore, according to U.S. Bureau of Labor Statistics, $20 in 1999 has the same "purchasing power" as $24.76 in 2023 (in the CPI category of New vehicles (chained)).

Source: U.S. Bureau of Labor Statistics began tracking the Consumer Price Index for New vehicles (chained) in 1999. In addition to new vehicles (chained), the index produces monthly data on changes in prices paid by urban consumers for a variety of goods and services.