What the used car inflation rate measures
The chart shows the 12-month change in the CPI index for used cars and trucks. The Bureau of Labor Statistics builds it from dealer transaction data provided by J.D. Power, adjusted for vehicle age, mileage and quality. It covers vehicles bought by households from dealers. The values are not seasonally adjusted. The index tracks price changes, not the average price paid, which is reported by private sources.
How to read this chart
For decades used car prices barely moved, so the line hugged zero. The pandemic changed that: a shortage of computer chips cut new car production, buyers turned to used vehicles and prices jumped by more than 40% in a year. When the line falls below zero, prices are lower than a year earlier, which happened through much of 2023 as supply recovered.
The latest reading in context
- At −1.5%, the latest reading is below its 5-year average of 2.1% and below its 10-year average of 2.9%.
- Of all 862 monthly readings since December 1953, 31% were lower than today’s and 69% were higher.
- Direction: up 0.9 points over the past month; up 1.7 points over the past six months; down 6.5 points over the past year.
- The highest value on record is 45.2% (June 2021, 5 years ago); the lowest is −18.8% (April 1954, 72 years ago).
- The full history spans 11 US recessions, shaded grey on the chart.
Why it matters
Used vehicles are a small share of the CPI, about 2–3%, but their swings were large enough to explain a big part of the 2021 inflation surge. They are also an early signal: price changes at wholesale auctions reach the CPI about two months later, so economists watch them to anticipate goods inflation.
What moves the used car inflation rate
- New car production and inventories
- Rental car fleets buying and selling vehicles
- Auto loan rates and credit conditions
- Wholesale auction prices, which lead retail by one to two months
- Tariffs on new cars and parts, which push buyers toward used
Key moments in its history
- 2008–2009Fell during the financial crisis, then recovered with Cash for Clunkers.
- 2010sStayed within a few percent of zero.
- Jun 2021Rose about 45% from a year earlier, the largest increase on record.
- 2023Fell for much of the year as new car supply returned.
Used Car Price Inflation data tables
Average by decade
| Decade | Average | High | Low |
|---|---|---|---|
| 2020s (so far) | 4.8% | 45.2% | −13.6% |
| 2010s | 1.1% | 17.0% | −4.7% |
| 2000s | −1.7% | 9.2% | −11.8% |
| 1990s | 2.5% | 15.9% | −5.8% |
| 1980s | 7.5% | 29.3% | −5.6% |
| 1970s | 7.3% | 32.4% | −10.0% |
| 1960s | 1.6% | 18.4% | −14.0% |
| 1950s | 0.4% | 15.7% | −18.8% |
Last 12 months
| Period | Value | Change |
|---|---|---|
| Sep 2026 | −1.5% | +0.9 pts |
| Aug 2026 | −2.3% | −0.4 pts |
| Jul 2026 | −1.9% | −0.1 pts |
| Jun 2026 | −1.8% | +0.2 pts |
| May 2026 | −2.0% | +0.7 pts |
| Apr 2026 | −2.7% | +0.5 pts |
| Mar 2026 | −3.2% | 0.0 pts |
| Feb 2026 | −3.2% | −1.2 pts |
| Jan 2026 | −2.0% | −3.6 pts |
| Dec 2025 | 1.6% | −1.9 pts |
| Nov 2025 | 3.6% | −1.0 pts |
| Oct 2025 | 4.6% | −0.5 pts |
Monthly values. Decade figures are averages of the monthly values in each decade. The complete history is available as a CSV file.
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Used Car Price Inflation: questions and answers
Why did used car prices rise so much in 2021?
A chip shortage cut new car production, rental companies rebuilt their fleets and stimulus payments boosted demand, all at the same time.
Does this chart show the average price of a used car?
No. It is a price index that shows percentage changes for comparable vehicles. Average transaction prices also change when buyers choose newer or older cars.
How do used car prices affect inflation?
Directly through their CPI weight, and indirectly through car insurance and repair costs, which rise when vehicles are worth more.
Where does the data on this chart come from?
From the U.S. Bureau of Labor Statistics. ChartWidgets downloads the series (CUUR0000SETA02) from FRED, the Federal Reserve Bank of St. Louis database, and checks for new releases every day. The last update was on November 1, 2026.