According to the U.S. Bureau of Labor Statistics, prices for motor vehicle parts and equipment were 39.61% higher in 2018 versus 1996.
Between 1996 and 2018: Car parts experienced an average inflation rate of 1.53% per year. In other words, car parts costing $500 in the year 1996 would cost $698.07 in 2018 for an equivalent purchase. Compared to the overall inflation rate of 2.11% during this same period, inflation for car parts was lower.
In the year 1996: Pricing changed by 0.08%, below the average yearly change for car parts during the 1996-2018 time period. Compared to inflation for all items in 1996 (2.93%), 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: