According to the U.S. Bureau of Labor Statistics, prices for motor vehicle parts and equipment were 31.70% higher in 2017 versus 2004.
Between 2004 and 2017: Car parts experienced an average inflation rate of 2.14% per year. This rate of change indicates significant inflation. In other words, car parts costing $500 in the year 2004 would cost $658.50 in 2017 for an equivalent purchase. Compared to the overall inflation rate of 2.02% during this same period, inflation for car parts was similar.
In the year 2004: Pricing changed by 0.81%, below the average yearly change for car parts during the 2004-2017 time period. Compared to inflation for all items in 2004 (2.68%), 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: