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Consumer Price Index
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Recent and upcoming methodology changes: 2024
Changes to used cars and trucks methodology (updated February 13, 2024)
With the release of January 2024 data, the CPI program updated the mileage adjustment applied to each sampled used vehicle in the used cars and trucks index. Historically, a single, stable mileage amount estimated for a given make and model was applied to each sampled vehicle and remained unchanged throughout the year. The assigned mileage amount is now replaced with a monthly average mileage amount based on the age of the sampled used vehicle, and not the make and model. Each estimated price for a sampled used vehicle is still adjusted for depreciation.
In addition, seasonally adjusted indexes as well as calculated seasonal adjustment factors take the new methodology into account beginning in 2024. Revised seasonal factors are available at Seasonal Adjustment in the CPI.
Details on the new method are available on the Measuring Price Change in the CPI: Used cars and trucks factsheet.
Last Modified Date: February 13, 2024