According to the U.S. Bureau of Labor Statistics, prices for motor vehicle parts and equipment were 3.54% higher in 2020 versus 2017 (a $17.72 difference in value).
Between 2017 and 2020: Car parts experienced an average inflation rate of 1.17% per year. In other words, car parts costing $500 in the year 2017 would cost $517.72 in 2020 for an equivalent purchase. Compared to the overall inflation rate of 1.73% during this same period, inflation for car parts was lower.
In the year 2017: Pricing changed by -0.36%, which is below the average yearly change for car parts during the 2017-2020 time period. Compared to inflation for all items in 2017 (2.13%), 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 2017. Each of the amounts below is equivalent in terms of what it could buy at the time:
|Year||USD Value||Inflation Rate|