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Used car prices have doubled, yet the “official” inflation figure is only 6%?
by symlinkk 5y ago
Used car prices have doubled, yet the “official” inflation figure is only 6%?
- alphabettsy 5y agoIt’s based on weighted numbers.
- erehweb 5y agoThe average selling price may have doubled, but this is affected by the mix of cars that get sold, as outlined in https://publish.manheim.com/en/services/consulting/used-vehicle-value-index.html https://publish.manheim.com/en/services/consulting/used-vehi... - correcting for that says prices went up 38% Y/Y
- baggy_trough 5y agoWho are you going to believe, your wallet or a government stat laundered by bureaucrats who want it to be as low as possible?
- wbsss4412 5y agoWhat percentage of your personal monthly budget gets spent buying a used car? That is, not in servicing loan payments, but actually buying cars. Inflation is weighted for this reason.
- symlinkk 5y agoIt’s probably the number 2 most expensive monthly payment the average person has beyond a mortgage. What’s your point?
- wbsss4412 5y ago“Not servicing loan payments, actually buying cars”. The average family isn’t but a whole new (used, but new to them) car every month. The percentage of people actually buying cars right now is a small fraction of the population. For everyone else, the price they bought their car was set when they bought it, and inflation has no affect on their loan payments.
- standardUser 5y agoThis isn't macroeconomic inflationary pressure, this is simply a shortage.
- plantain 5y agoAre they different? Isn't macroeconomic inflationary pressure from widespread shortages?
- golemiprague 5y agoBecause the media supports the current government and doesn't want to make it look bad, the actual inflation is probably 20% or even more.