According to the U.S. Bureau of Labor Statistics, prices for motor vehicle parts and equipment were 32.51% higher in 2018 versus 2003.
Between 2003 and 2018: Car parts experienced an average inflation rate of 1.89% per year. In other words, car parts costing $500 in the year 2003 would cost $662.56 in 2018 for an equivalent purchase. Compared to the overall inflation rate of 2.05% during this same period, inflation for car parts was lower.
In the year 2003: Pricing changed by 0.86%, below the average yearly change for car parts during the 2003-2018 time period. Compared to inflation for all items in 2003 (2.27%), price inflation for car parts was lower.
Raw Consumer Price Index data from U.S. Bureau of Labor Statistics for Motor vehicle parts and equipment: