Does Inflation Only Affect The Poor? How New And Used Car Data Can Tell The Story
The index for new cars increased 0.6% in July, while the index for used cars fell 0.4%, according to data issued by the Labor Department on Wednesday, Aug. 10.
While inflationary pressures on used car prices have only increased twice in 2022, pressures on new vehicles have increased six of the seven months out of the year.