According to the U.S. Bureau of Labor Statistics, prices for motor vehicle parts and equipment were 32.76% higher in 2017 versus 2003.
Between 2003 and 2017: Car parts experienced an average inflation rate of 2.04% per year. This rate of change indicates significant inflation. In other words, car parts costing $500 in the year 2003 would cost $663.81 in 2017 for an equivalent purchase. Compared to the overall inflation rate of 2.07% during this same period, inflation for car parts was lower.
In the year 2003: Pricing changed by 0.86%, below the average yearly change for car parts during the 2003-2017 time period. Compared to inflation for all items in 2003 (2.27%), 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: