According to the U.S. Bureau of Labor Statistics, prices for motor vehicle parts and equipment are 78.77% higher in 2024 versus 1998 (a $393.85 difference in value).
Between 1998 and 2024: Car parts experienced an average inflation rate of 2.26% per year. This rate of change indicates significant inflation. In other words, car parts costing $500 in the year 1998 would cost $893.85 in 2024 for an equivalent purchase. Compared to the overall inflation rate of 2.55% during this same period, inflation for car parts was lower.
In the year 1998: Pricing changed by -0.75%, which is significantly below the average yearly change for car parts during the 1998-2024 time period. Compared to inflation for all items in 1998 (1.55%), inflation for car parts was lower.
Below are calculations of equivalent buying power for Car parts, over time, for $500 beginning in 1998. Each of the amounts below is equivalent in terms of what it could buy at the time:
| Year | USD Value | Inflation Rate |
|---|---|---|
| 1998 | $500.00 | -0.75% |
| 1999 | $496.92 | -0.62% |
| 2000 | $502.02 | 1.03% |
| 2001 | $518.18 | 3.22% |
| 2002 | $528.53 | 2.00% |
| 2003 | $533.09 | 0.86% |
| 2004 | $537.39 | 0.81% |
| 2005 | $553.36 | 2.97% |
| 2006 | $579.83 | 4.78% |
| 2007 | $601.16 | 3.68% |
| 2008 | $636.59 | 5.89% |
| 2009 | $662.80 | 4.12% |
| 2010 | $677.37 | 2.20% |
| 2011 | $711.55 | 5.05% |
| 2012 | $734.55 | 3.23% |
| 2013 | $723.98 | -1.44% |
| 2014 | $716.07 | -1.09% |
| 2015 | $713.17 | -0.41% |
| 2016 | $709.80 | -0.47% |
| 2017 | $707.26 | -0.36% |
| 2018 | $710.33 | 0.43% |
| 2019 | $724.05 | 1.93% |
| 2020 | $732.03 | 1.10% |
| 2021 | $766.88 | 4.76% |
| 2022 | $869.00 | 13.32% |
| 2023 | $893.99 | 2.88% |
| 2024 | $893.85 | -0.02%* |
* 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:
| Year | 1977 | 1978 | 1979 | 1980 | 1981 | 1982 | 1983 | 1984 | 1985 | 1986 | 1987 | 1988 | 1989 | 1990 | 1991 | 1992 | 1993 | 1994 | 1995 | 1996 | 1997 | 1998 | 1999 | 2000 | 2001 | 2002 | 2003 | 2004 | 2005 | 2006 | 2007 | 2008 | 2009 | 2010 | 2011 | 2012 | 2013 | 2014 | 2015 | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 |
| CPI | 75.300 | 77.592 | 85.069 | 95.277 | 101.069 | 103.615 | 100.777 | 95.615 | 95.908 | 95.415 | 96.085 | 97.869 | 100.215 | 100.900 | 102.154 | 103.054 | 101.615 | 101.362 | 102.115 | 102.200 | 101.885 | 101.123 | 100.500 | 101.531 | 104.800 | 106.892 | 107.815 | 108.685 | 111.915 | 117.269 | 121.583 | 128.747 | 134.050 | 136.995 | 143.909 | 148.560 | 146.422 | 144.823 | 144.236 | 143.555 | 143.041 | 143.662 | 146.437 | 148.051 | 155.100 | 175.752 | 180.806 | 180.777 |