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Used car prices have jumped again unexpectedly, which suggests that inflation is increasing and impacting car buyers. This news squashes the optimistic predictions that inflation is heading downward, as the Federal Reserve continues to hike interest rates.
Used car prices have increasingly become a point of interest for investors as a barometer for measuring and easing inflation. The White House is blaming much of the rising inflation rates starting in the first half of 2022 on the used vehicle market and not other economic factors.
Used car prices are a leading indicators in the Consumer Price Index (CPI), making up 4.5 percent of the survey. Over the last six months, used car prices fell as demand fell, with interest rates starting to rise again, buyers are paying cash and demand has returned.
The car market remains volatile, shopping for a new or used car over the last few years has become a frustrating and expensive undertaking. Car shoppers have had to deal with vehicle shortages, high prices, dwindling incentives, and rising interest rates.
So is now the best time to buy a vehicle? Thanks for watching and subscribing.
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