Car parts priced at $500 in 1988 $923.25 in 2024

Car Parts Inflation Calculator

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Prices for Car Parts, 1988-2024 ($500)

According to the U.S. Bureau of Labor Statistics, prices for motor vehicle parts and equipment are 84.65% higher in 2024 versus 1988 (a $423.25 difference in value).

Between 1988 and 2024: Car parts experienced an average inflation rate of 1.72% per year. In other words, car parts costing $500 in the year 1988 would cost $923.25 in 2024 for an equivalent purchase. Compared to the overall inflation rate of 2.74% during this same period, inflation for car parts was lower.

In the year 1988: Pricing changed by 1.86%, which is above the average yearly change for car parts during the 1988-2024 time period. Compared to inflation for all items in 1988 (4.08%), inflation for car parts was lower.

Price Inflation for Motor vehicle parts and equipment since 1977

Consumer Price Index, U.S. Bureau of Labor Statistics
Years with the largest changes in pricing: 2022 (13.32%), 1980 (12%), and 1979 (9.64%).

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Buying power of $500.00 since 1988

Below are calculations of equivalent buying power for Car parts, over time, for $500 beginning in 1988. Each of the amounts below is equivalent in terms of what it could buy at the time:

YearUSD ValueInflation Rate
1988$500.001.86%
1989$511.992.40%
1990$515.480.68%
1991$521.891.24%
1992$526.490.88%
1993$519.14-1.40%
1994$517.84-0.25%
1995$521.690.74%
1996$522.130.08%
1997$520.51-0.31%
1998$516.62-0.75%
1999$513.44-0.62%
2000$518.711.03%
2001$535.413.22%
2002$546.102.00%
2003$550.810.86%
2004$555.250.81%
2005$571.762.97%
2006$599.114.78%
2007$621.153.68%
2008$657.755.89%
2009$684.844.12%
2010$699.892.20%
2011$735.215.05%
2012$758.973.23%
2013$748.05-1.44%
2014$739.88-1.09%
2015$736.88-0.41%
2016$733.40-0.47%
2017$730.77-0.36%
2018$733.950.43%
2019$748.131.93%
2020$756.371.10%
2021$792.384.76%
2022$897.8913.32%
2023$923.712.88%
2024$923.25-0.05%*

* Not final. See inflation summary for latest details.
** Extended periods of 0% inflation usually indicate incomplete underlying data. This can manifest as a sharp increase in inflation later on.


Raw Consumer Price Index data from U.S. Bureau of Labor Statistics for Motor vehicle parts and equipment:

Year197719781979198019811982198319841985198619871988198919901991199219931994199519961997199819992000200120022003200420052006200720082009201020112012201320142015201620172018201920202021202220232024
CPI75.30077.59285.06995.277101.069103.615100.77795.61595.90895.41596.08597.869100.215100.900102.154103.054101.615101.362102.115102.200101.885101.123100.500101.531104.800106.892107.815108.685111.915117.269121.583128.747134.050136.995143.909148.560146.422144.823144.236143.555143.041143.662146.437148.051155.100175.752180.806180.716

Adjust car parts prices for inflation

Start with the inflation rate formula:

CPI in 2024 / CPI in 1988 * 1988 USD value = 2024 USD value

Then plug in historical CPI values from above. The CPI for Motor vehicle parts and equipment was 97.869 in the year 1988 and 180.716 in 2024:

180.716 / 97.869 * $500 = $923.25

Therefore, according to U.S. Bureau of Labor Statistics, $500 in 1988 has the same "purchasing power" as $923.25 in 2024 (in the CPI category of Motor vehicle parts and equipment).


Source: U.S. Bureau of Labor Statistics began tracking the Consumer Price Index for Motor vehicle parts and equipment in 1977. In addition to car parts, the index produces monthly data on changes in prices paid by urban consumers for a variety of goods and services.

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