According to the U.S. Bureau of Labor Statistics, prices for motor vehicle parts and equipment were 41.10% higher in 2018 versus 1998.
Between 1998 and 2018: Car parts experienced an average inflation rate of 1.74% per year. In other words, car parts costing $500 in the year 1998 would cost $705.50 in 2018 for an equivalent purchase. Compared to the overall inflation rate of 2.13% during this same period, inflation for car parts was lower.
In the year 1998: Pricing changed by -0.75%, below the average yearly change for car parts during the 1998-2018 time period. Compared to inflation for all items in 1998 (1.55%), 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: