According to the U.S. Bureau of Labor Statistics, prices for motor vehicle parts and equipment are 5.92% higher in 2021 versus 2019 (a $29.58 difference in value).
Between 2019 and 2021: Car parts experienced an average inflation rate of 2.92% per year. This rate of change indicates significant inflation. In other words, car parts costing $500 in the year 2019 would cost $529.58 in 2021 for an equivalent purchase. Compared to the overall inflation rate of 2.95% during this same period, inflation for car parts was lower.
In the year 2019: Pricing changed by 1.93%, which is below the average yearly change for car parts during the 2019-2021 time period. Compared to inflation for all items in 2019 (1.81%), inflation for car parts was higher.
Below are calculations of equivalent buying power for Car parts, over time, for $500 beginning in 2019. Each of the amounts below is equivalent in terms of what it could buy at the time:
|Year||USD Value||Inflation Rate|
Raw Consumer Price Index data from U.S. Bureau of Labor Statistics for Motor vehicle parts and equipment: