According to the U.S. Bureau of Labor Statistics, prices for new vehicles were 176.66% higher in 2017 versus 1970 (a $15,546.19 difference in value).
Between 1970 and 2017: Vehicles experienced an average inflation rate of 2.19% per year. This rate of change indicates significant inflation. In other words, vehicles costing $8,800 in the year 1970 would cost $24,346.19 in 2017 for an equivalent purchase. Compared to the overall inflation rate of 4.00% during this same period, inflation for vehicles was lower.
In the year 1970: Pricing changed by 3.14%, which is above the average yearly change for vehicles during the 1970-2017 time period. Compared to inflation for all items in 1970 (5.83%), inflation for vehicles was lower.
Below are calculations of equivalent buying power for Vehicles, over time, for $8,800 beginning in 1970. Each of the amounts below is equivalent in terms of what it could buy at the time:
Year | USD Value | Inflation Rate |
---|---|---|
1970 | $8,800.00 | 3.14% |
1971 | $9,155.47 | 4.04% |
1972 | $9,075.20 | -0.88% |
1973 | $9,077.75 | 0.03% |
1974 | $9,603.94 | 5.80% |
1975 | $10,432.08 | 8.62% |
1976 | $11,092.05 | 6.33% |
1977 | $11,680.67 | 5.31% |
1978 | $12,571.25 | 7.62% |
1979 | $13,568.84 | 7.94% |
1980 | $14,653.08 | 7.99% |
1981 | $15,547.47 | 6.10% |
1982 | $16,145.01 | 3.84% |
1983 | $16,542.52 | 2.46% |
1984 | $16,998.64 | 2.76% |
1985 | $17,565.60 | 3.34% |
1986 | $18,318.58 | 4.29% |
1987 | $18,945.42 | 3.42% |
1988 | $19,298.34 | 1.86% |
1989 | $19,736.62 | 2.27% |
1990 | $20,107.37 | 1.88% |
1991 | $20,866.71 | 3.78% |
1992 | $21,400.55 | 2.56% |
1993 | $21,985.35 | 2.73% |
1994 | $22,788.01 | 3.65% |
1995 | $23,346.05 | 2.45% |
1996 | $23,795.80 | 1.93% |
1997 | $23,892.63 | 0.41% |
1998 | $23,757.58 | -0.57% |
1999 | $23,662.02 | -0.40% |
2000 | $23,644.19 | -0.08% |
2001 | $23,537.17 | -0.45% |
2002 | $23,188.07 | -1.48% |
2003 | $22,832.60 | -1.53% |
2004 | $22,701.38 | -0.57% |
2005 | $22,841.52 | 0.62% |
2006 | $22,788.01 | -0.23% |
2007 | $22,567.69 | -0.97% |
2008 | $22,226.38 | -1.51% |
2009 | $22,463.18 | 1.07% |
2010 | $22,857.72 | 1.76% |
2011 | $23,500.01 | 2.81% |
2012 | $23,889.03 | 1.66% |
2013 | $24,145.95 | 1.08% |
2014 | $24,227.37 | 0.34% |
2015 | $24,369.83 | 0.59% |
2016 | $24,406.69 | 0.15% |
2017 | $24,346.19 | -0.25% |
2018 | $24,229.33 | -0.48% |
2019 | $24,319.98 | 0.37% |
2020 | $24,446.89 | 0.52% |
2021 | $25,877.95 | 5.85% |
2022 | $28,567.73 | 10.39% |
2023 | $29,630.84 | 3.72% |
2024 | $29,561.15 | -0.24%* |
* 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:
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 | 20.300 | 20.400 | 20.800 | 21.800 | 21.300 | 21.400 | 23.000 | 23.000 | 23.000 | 23.000 | 23.000 | 23.000 | 34.500 | 37.580 | 41.000 | 41.220 | 43.360 | 46.940 | 47.254 | 46.508 | 44.877 | 46.138 | 48.546 | 50.108 | 52.246 | 51.569 | 51.562 | 51.362 | 51.054 | 50.908 | 49.792 | 48.892 | 49.346 | 50.692 | 51.515 | 53.131 | 55.277 | 54.792 | 54.808 | 57.985 | 62.985 | 66.969 | 70.523 | 75.900 | 81.923 | 88.469 | 93.869 | 97.477 | 99.877 | 102.631 | 106.054 | 110.600 | 114.385 | 116.515 | 119.162 | 121.400 | 125.985 | 129.208 | 132.738 | 137.585 | 140.954 | 143.669 | 144.254 | 143.438 | 142.862 | 142.754 | 142.108 | 140.000 | 137.854 | 137.062 | 137.908 | 137.585 | 136.254 | 134.194 | 135.623 | 138.005 | 141.883 | 144.232 | 145.783 | 146.275 | 147.135 | 147.358 | 146.992 | 146.287 | 146.834 | 147.600 | 156.240 | 172.480 | 178.899 | 178.478 |