According to the U.S. Bureau of Labor Statistics, prices for motor vehicle parts and equipment were 1.12% higher in 2020 versus 2019 (a $5.61 difference in value).
Between 2019 and 2020: Car parts experienced an average inflation rate of 1.12% per year. In other words, car parts costing $500 in the year 2019 would cost $505.61 in 2020 for an equivalent purchase. Compared to the overall inflation rate of 1.11% during this same period, inflation for car parts was higher.
In the year 2019: Pricing changed by 1.93%, which is above the average yearly change for car parts during the 2019-2020 time period. Compared to inflation for all items in 2019 (1.81%), 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 2019. Each of the amounts below is equivalent in terms of what it could buy at the time:
|Year||USD Value||Inflation Rate|