Used car prices up 6.1 percent since July ’09

According to the Consumer Price Index reports released by the Bureau of Labor Statistics, used car prices increased 6.1 percent in the four-month period between July 2009 and October 2009 (seasonally-unadjusted figures). Taking into account compounding, that’s an annualized inflation rate of 19.4 percent. Yes, prices will probably pull back a bit in the coming months, but anyone expecting a crash in prices will probably be waiting a long, long time.

Advertisements