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Used Car Prices on the Rise, Raising Inflationary Specter

  • Previously-owned vehicle index rose through mid-September
  • Month-on-month prices on track for first gain since May
Photographer: Luke Sharrett/Bloomberg
Updated on

Used car prices, one of the biggest drivers of U.S. inflation this year, rose again in early September on a monthly basis after idling over the summer. 

The Manheim U.S. Used Vehicle Value Index, a measure of pricing trends, increased 3.6% in the first half of September compared with a month earlier. That puts it on track for the first month-over-month increase since May while extending the string of consecutive monthly of gains on a year-over-year basis that dates back to June 2020.