Transportation priced at $1,200,000 in 2020 $1,587,499.79 in 2023

Transportation Inflation Calculator


Prices for Transportation, 2020-2023 ($1,200,000)

According to the U.S. Bureau of Labor Statistics, prices for transportation are 32.29% higher in 2023 versus 2020 (a $387,499.79 difference in value).

Between 2020 and 2023: Transportation experienced an average inflation rate of 9.78% per year. This rate of change indicates significant inflation. In other words, transportation costing $1,200,000 in the year 2020 would cost $1,587,499.79 in 2023 for an equivalent purchase. Compared to the overall inflation rate of 5.44% during this same period, inflation for transportation was significantly higher.

In the year 2020: Pricing changed by -4.16%, which is significantly below the average yearly change for transportation during the 2020-2023 time period. Compared to inflation for all items in 2020 (1.23%), inflation for transportation was much lower.

Price Inflation for Transportation since 1935

Consumer Price Index, U.S. Bureau of Labor Statistics
Years with the largest changes in pricing: 1980 (17.81%), 2022 (15.47%), and 2021 (14.56%).

View price changes for other categories
Chicago, Illinois · Airline fares · Bananas · Jewelry · More

Buying power of $1,200,000.00 since 2020

Below are calculations of equivalent buying power for Transportation, over time, for $1,200,000 beginning in 2020. Each of the amounts below is equivalent in terms of what it could buy at the time:

YearUSD ValueInflation Rate

* 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:


Adjust transportation prices for inflation

Start with the inflation rate formula:

CPI in 2023 / CPI in 2020 * 2020 USD value = 2023 USD value

Then plug in historical CPI values from above. The CPI for Transportation was 201.334 in the year 2020 and 266.348 in 2023:

266.348 / 201.334 * $1,200,000 = $1,587,499.79

Therefore, according to U.S. Bureau of Labor Statistics, $1,200,000 in 2020 has the same "purchasing power" as $1,587,499.79 in 2023 (in the CPI category of Transportation).

Source: U.S. Bureau of Labor Statistics began tracking the Consumer Price Index for Transportation in 1935. In addition to transportation, the index produces monthly data on changes in prices paid by urban consumers for a variety of goods and services.

» Read more about inflation and investment.