According to the U.S. Bureau of Labor Statistics, prices for motor vehicle parts and equipment were 40.06% higher in 2017 versus 1996.
Between 1996 and 2017: Car parts experienced an average inflation rate of 1.62% per year. In other words, car parts costing $500 in the year 1996 would cost $700.28 in 2017 for an equivalent purchase. Compared to the overall inflation rate of 2.15% 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 1996-2017 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: