According to the U.S. Bureau of Labor Statistics, prices for motor vehicle parts and equipment were 40.77% higher in 2018 versus 1994.
Between 1994 and 2018: Car parts experienced an average inflation rate of 1.43% per year. In other words, car parts costing $500 in the year 1994 would cost $703.84 in 2018 for an equivalent purchase. Compared to the overall inflation rate of 2.18% during this same period, inflation for car parts was lower.
In the year 1994: Pricing changed by -0.25%, below the average yearly change for car parts during the 1994-2018 time period. Compared to inflation for all items in 1994 (2.60%), price inflation for car parts was lower.
Raw Consumer Price Index data from U.S. Bureau of Labor Statistics for Motor vehicle parts and equipment: