According to the U.S. Bureau of Labor Statistics, prices for transportation are 488.38% higher in 2024 versus 1974 (a $2,441,921.40 difference in value).
Between 1974 and 2024: Transportation experienced an average inflation rate of 3.61% per year. This rate of change indicates significant inflation. In other words, transportation costing $500,000 in the year 1974 would cost $2,941,921.40 in 2024 for an equivalent purchase. Compared to the overall inflation rate of 3.75% during this same period, inflation for transportation was lower.
In the year 1974: Pricing changed by 11.21%, which is significantly above the average yearly change for transportation during the 1974-2024 time period. Compared to inflation for all items in 1974 (11.05%), inflation for transportation was higher.
Below are calculations of equivalent buying power for Transportation, over time, for $500,000 beginning in 1974. Each of the amounts below is equivalent in terms of what it could buy at the time:
Year | USD Value | Inflation Rate |
---|---|---|
1974 | $500,000.00 | 11.21% |
1975 | $546,943.23 | 9.39% |
1976 | $601,360.43 | 9.95% |
1977 | $643,768.89 | 7.05% |
1978 | $673,916.69 | 4.68% |
1979 | $769,986.56 | 14.26% |
1980 | $907,121.26 | 17.81% |
1981 | $1,016,963.39 | 12.11% |
1982 | $1,058,867.99 | 4.12% |
1983 | $1,084,145.11 | 2.39% |
1984 | $1,132,264.02 | 4.44% |
1985 | $1,162,159.89 | 2.64% |
1986 | $1,116,980.18 | -3.89% |
1987 | $1,150,739.00 | 3.02% |
1988 | $1,186,261.34 | 3.09% |
1989 | $1,245,633.19 | 5.00% |
1990 | $1,315,670.14 | 5.62% |
1991 | $1,351,864.29 | 2.75% |
1992 | $1,381,424.25 | 2.19% |
1993 | $1,423,160.90 | 3.02% |
1994 | $1,466,157.21 | 3.02% |
1995 | $1,518,642.93 | 3.58% |
1996 | $1,561,471.28 | 2.82% |
1997 | $1,575,075.58 | 0.87% |
1998 | $1,545,347.67 | -1.89% |
1999 | $1,576,419.21 | 2.01% |
2000 | $1,673,916.69 | 6.18% |
2001 | $1,683,993.95 | 0.60% |
2002 | $1,668,794.09 | -0.90% |
2003 | $1,720,104.13 | 3.07% |
2004 | $1,780,567.69 | 3.52% |
2005 | $1,898,555.59 | 6.63% |
2006 | $1,974,470.94 | 4.00% |
2007 | $2,016,174.84 | 2.11% |
2008 | $2,134,817.77 | 5.88% |
2009 | $1,956,903.76 | -8.33% |
2010 | $2,111,309.20 | 7.89% |
2011 | $2,318,406.11 | 9.81% |
2012 | $2,372,678.87 | 2.34% |
2013 | $2,373,489.25 | 0.03% |
2014 | $2,357,415.18 | -0.68% |
2015 | $2,173,216.33 | -7.81% |
2016 | $2,127,659.56 | -2.10% |
2017 | $2,200,492.11 | 3.42% |
2018 | $2,299,820.29 | 4.51% |
2019 | $2,293,321.30 | -0.28% |
2020 | $2,197,971.95 | -4.16% |
2021 | $2,518,089.52 | 14.56% |
2022 | $2,907,531.07 | 15.47% |
2023 | $2,914,611.19 | 0.24% |
2024 | $2,941,921.40 | 0.94%* |
* 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:
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 | 14.200 | 14.267 | 14.560 | 14.620 | 14.300 | 14.220 | 14.760 | 16.020 | 15.920 | 15.900 | 15.900 | 16.860 | 18.454 | 20.577 | 22.115 | 22.685 | 24.138 | 25.731 | 26.469 | 26.085 | 25.769 | 26.231 | 27.692 | 28.608 | 29.792 | 29.785 | 30.123 | 30.754 | 30.923 | 31.385 | 31.900 | 32.354 | 33.277 | 34.338 | 35.662 | 37.492 | 39.462 | 39.923 | 41.185 | 45.800 | 50.100 | 55.085 | 58.969 | 61.731 | 70.531 | 83.092 | 93.154 | 96.992 | 99.308 | 103.715 | 106.454 | 102.315 | 105.408 | 108.662 | 114.100 | 120.515 | 123.831 | 126.538 | 130.362 | 134.300 | 139.108 | 143.031 | 144.277 | 141.554 | 144.400 | 153.331 | 154.254 | 152.862 | 157.562 | 163.100 | 173.908 | 180.862 | 184.682 | 195.549 | 179.252 | 193.396 | 212.366 | 217.337 | 217.412 | 215.939 | 199.067 | 194.894 | 201.565 | 210.664 | 210.068 | 201.334 | 230.657 | 266.330 | 266.978 | 269.480 |