According to the U.S. Bureau of Labor Statistics, prices for motor vehicle parts and equipment were 3.18% higher in 2020 versus 2016 (a $15.90 difference in value).
Between 2016 and 2020: Car parts experienced an average inflation rate of 0.79% per year. In other words, car parts costing $500 in the year 2016 would cost $515.90 in 2020 for an equivalent purchase. Compared to the overall inflation rate of 1.85% during this same period, inflation for car parts was lower.
In the year 2016: Pricing changed by -0.47%, which is below the average yearly change for car parts during the 2016-2020 time period. Compared to inflation for all items in 2016 (1.26%), inflation for car parts was lower.
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 2016. Each of the amounts below is equivalent in terms of what it could buy at the time:
|Year||USD Value||Inflation Rate|