Used cars make their biggest price jump in a half-century

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U.S. consumer prices rose solidly in August, with the cost of used cars and trucks accelerating by the most in more than 51 years likely as Americans shunned public transportation because of fears of contracting COVID-19. The report from the Labor Department on Friday also showed a firming in underlying inflation last month, putting fears of deflation to rest. “Consumer prices are rebounding from the pandemic shock, but as supply shortages are resolved, upward price increases should moderate,”

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Used cars make their biggest price jump in a half-century originally appeared on Autoblog on Fri, 11 Sep 2020 18:51:00 EDT. Please see our terms for use of feeds.

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