I’m sure we’re all feeling the pinch of higher prices on just about everything these days! Gasoline is sky high, groceries seem to continue to climb, used cars are off the charts in some cases and housing, well housing is beyond over the top. The Consumer Price Index is up 5.4% in June. I have a friend who really wasn’t going to get in the market, but decided to put his house up for sale and in about 48 hours had some 50 showings and a dozen offers all of which all were over the asking price! Shazam!!! He and his lovely bride are looking for a new abode which will, in itself be a project and an adventure. Inflation and demand have put so many items on the want list and with folks coming out of pandemic lock down people are willing to roll the dice to get what they want! There are some signs however that inflation may be slowing down and making a turn for the better. The prices dealers pay for used cars at massive auctions across the country finally dipped in June after hitting record highs in each of the four previous months and that could provide important clues about where inflation is headed next. Let’s hope that is a sign of things to come!
Inflation Is Still High. Used Car Prices Could Help Explain What Happens Next.