18 days ago • Posted by William Ramstein
A booming used-car market could be driving inflation
The cost of used cars and trucks jumped 10% MoM in April and was up 21% compared with a year before. According to the US Bureau of Labor Statistics' CPI, core inflation was 3%. While unusual for a recession, the number of customers who defaulted on vehicle finance and has their car repossessed has decline, and demand for cars has boomed. Used cars and trucks are seeing a CPI slightly above 20%, second on the CPI ranking behind energy CPI at 25%.