Used cars drive U.S. consumer prices higher; inflation pressures firming

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ap215
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Used cars drive U.S. consumer prices higher; inflation pressures firming

Post by ap215 »

Used cars drive U.S. consumer prices higher; inflation pressures firming

WASHINGTON (Reuters) - 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. Deflation, a decline in the general price level, is harmful during a recession as consumers and businesses may delay purchases in anticipation of lower prices.

https://finance.yahoo.com/news/used-car ... 16870.html

Motor City
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Re: Used cars drive U.S. consumer prices higher; inflation pressures firming

Post by Motor City »

All these creative ways of saying people are running out of money and society is on the brink of collapse because there is neither opportunity for work or aid available to the masses. no way to distribute new cars or trucks to people who have no money.

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rainwater
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Re: Used cars drive U.S. consumer prices higher; inflation pressures firming

Post by rainwater »

Motor City wrote:
Fri Sep 11, 2020 6:22 pm
All these creative ways of saying people are running out of money and society is on the brink of collapse because there is neither opportunity for work or aid available to the masses. no way to distribute new cars or trucks to people who have no money.
yeh i keep wondering who is doing all this "buying" theyre claiming...
Who are these..flag-sucking halfwits fleeced fooled by stupid little rich kids, They speak
for all that is cruel stupid, They are racists hate mongers I piss down the throats of
these Nazis Im too old to worry whether they like it, Fuck them.
HST.

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Number6
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Re: Used cars drive U.S. consumer prices higher; inflation pressures firming

Post by Number6 »

rainwater wrote:
Sat Sep 12, 2020 1:32 pm
yeh i keep wondering who is doing all this "buying" theyre claiming...
I'd have to know where the most used car sales are happening. Most likely, they're being sold in and around large and medium sized cities that have a public transportation system. From the first paragraph in ap215's link:
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.
I can see people living in cities like L.A., Atlanta, Dallas, etc. who regularly use public transportation and still have a job buying used cars. The thing to look at next is what income groups are doing the buying. IMO, it's probably low middle income and lower income groups because they're the ones most likely to use public transportation.
When you vote Left you vote right.

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