According to the U.S. Bureau of Labor Statistics, prices for motor vehicle parts and equipment were 3.03% higher in 2021 versus 2020 (a $15.15 difference in value).
Between 2020 and 2021: Car parts experienced an average inflation rate of 3.03% per year. This rate of change indicates significant inflation. In other words, car parts costing $500 in the year 2020 would cost $515.15 in 2021 for an equivalent purchase. Compared to the overall inflation rate of 3.82% during this same period, inflation for car parts was lower.
In the year 2020: Pricing changed by 1.10%, which is below the average yearly change for car parts during the 2020-2021 time period. Compared to inflation for all items in 2020 (1.23%), 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 2020. Each of the amounts below is equivalent in terms of what it could buy at the time:
|Year||USD Value||Inflation Rate|