New York (CNN Business) Remember when city-dwellers weren't interested in owning cars? Used car sales are booming so much they pushed up consumer price inflation last month. Prices for used cars and trucks climbed 5.4% — the largest monthly increase since March 1969 — and contributed 40% to the core inflation index, which strips out items that tend to be volatile in price, like food and energy. "The categories with the highest increases tell the tale of today's economy," said Robert Frick, corporate economist with Navy Federal Credit Union. And it doesn't hurt that gas prices in the US cheaper than they've been in yearsUS core consumer prices rose 0.4% in August on a seasonally adjusted basis, less than the 0.6% increase in July,Read More

Source: CNN September 11, 2020 13:41 UTC