According to the U.S. Bureau of Labor Statistics, prices for motor vehicle parts and equipment were 0.24% lower in 2020 versus 2012 (a $1.19 difference in value).
Between 2012 and 2020: Car parts experienced an average inflation rate of -0.03% per year. In other words, car parts costing $500 in the year 2012 would cost $498.81 in 2020 for an equivalent purchase. Compared to the overall inflation rate of 1.44% during this same period, inflation for car parts was lower.
In the year 2012: Pricing changed by 3.23%, which is significantly above the average yearly change for car parts during the 2012-2020 time period. Compared to inflation for all items in 2012 (2.07%), inflation for car parts was higher.
Raw Consumer Price Index data from U.S. Bureau of Labor Statistics for Motor vehicle parts and equipment:
Below are calculations of equivalent buying power for Car parts, over time, for $500 beginning in 2012. Each of the amounts below is equivalent in terms of what it could buy at the time:
|Year||USD Value||Inflation Rate|