According to the U.S. Bureau of Labor Statistics, prices for motor vehicle parts and equipment were 31.45% higher in 2018 versus 2004.
Between 2004 and 2018: Car parts experienced an average inflation rate of 1.97% per year. In other words, car parts costing $500 in the year 2004 would cost $657.26 in 2018 for an equivalent purchase. Compared to the overall inflation rate of 2.00% during this same period, inflation for car parts was lower.
In the year 2004: Pricing changed by 0.81%, below the average yearly change for car parts during the 2004-2018 time period. Compared to inflation for all items in 2004 (2.68%), 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: