According to the U.S. Bureau of Labor Statistics, prices for motor vehicle parts and equipment were 40.05% higher in 2018 versus 1997.
Between 1997 and 2018: Car parts experienced an average inflation rate of 1.62% per year. In other words, car parts costing $500 in the year 1997 would cost $700.23 in 2018 for an equivalent purchase. Compared to the overall inflation rate of 2.10% during this same period, inflation for car parts was lower.
In the year 1997: Pricing changed by -0.31%, below the average yearly change for car parts during the 1997-2018 time period. Compared to inflation for all items in 1997 (2.33%), 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: