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The 7% inflation number is measured as an increase in prices in consumer goods. Used car prices are up >30% and are a significant piece of consumer spending.
by WoahNoun 5y ago
The 7% inflation number is measured as an increase in prices in consumer goods. Used car prices are up >30% and are a significant piece of consumer spending.
- rswail 5y agoPerhaps because the demand for vehicles post COVID is exceeding supply. However, is it just drawing forward future demand, which would mean the inflation is temporary? I mean after a 2 year recession caused by the pandemic, in terms of large consumer items, like vehicles, you'd expect that. People want/need to start travelling again.