In September 2024, the used cars and trucks component of the Consumer Price Index (CPI) saw a year-over-year decrease of 5.1%, an improvement from the 10.4% decline in August. This component hasn’t experienced positive year-over-year inflation since October 2022, reflecting a continued downturn in prices for used vehicles. The drop signifies ongoing market corrections from earlier price surges during supply chain disruptions.
Sources:
www.bls.gov/cpi/questions-and-answers.htm
www.bls.gov/data/inflation_calculator.htm
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