Transportation Consumer Price Index – December 2024

Wednesday, January 15, 2025

Today, the Bureau of Transportation Statistics (BTS) released the change in the costs faced by consumers for transportation goods and services, from December 2023 to December 2024, as measured by the Consumer Price Index (CPI). The annual change in CPI is a measure of inflation.

The CPI for all transportation goods and services rose 1.6% from December 2023 to December 2024. Transportation contributed 8.8% to the 2.9% year-over-year increase in the price of all goods and services, per the CPI. Motor vehicle insurance contributed the most to inflation, rising 11.3% year-over-year and contributing 10.9% to the annual increase in the price of all goods and services. By item, the top three contributors to inflation in December 2024 were:

Motor vehicle insurance: 10.9%
Motor vehicle maintenance and repair: 2.7%
Airline fares: 2.0%

The top three transportation items dampening the contribution transportation's contribution to inflation in December 2024 were:

Gasoline: -3.9%
Used cars and trucks: -2.2%
New vehicles: -0.5%
Other motor fuel: -0.5%

Bar chart depicting Consumer Price Index for Overall Transportation for December 2024

For additional information and for interactive charts on transportation's role in the economy and changes (trends) over time, please visit BTS' Transportation Economic Trends.

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