CARS - Used auto prices rebound in latest CPI print

2023-05-10 08:44:22 ET

After a prolonged period of declines, used car and truck prices ticked higher once again in the latest inflation update from the Bureau of Labor Statistics .

“The shelter index was the largest factor in the monthly increase in the index for all items less food and energy,” the CPI print noted. “Among the other indexes that rose in April was the index for used cars and trucks, which increased 4.4% and the index for motor vehicle insurance which increased 1.4%.”

The sequential rebound marks a break away from sustained declines from historic peaks that progressed through the fall and winter. Prices remain 6.6% below April 2022 levels.

The new data also contrasts with recently released data from the Manheim Used Vehicle Value Index

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