Used cars in the headlights
According to the latest Consumer Price Index (CPI) report from the Bureau of Labor Statistics, “the index for used cars and trucks rose 10.0 percent in April. This was the largest 1-month increase since the series began in 1953, and it accounted for over a third of the seasonally adjusted all items increase.”
Wow. That’s a big increase in used car prices, and a large influence for something that only makes up 2.7% of the overall CPI basket.