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Used Car Prices Stalled In 1H June

US DATA

The closely-watched Manheim used vehicle index showed that US prices were unchanged in the first half of June vs a month earlier (and up 11.1% Y/Y). If sustained, that's a development that could keep core goods prices a little less deflationary in the June CPI report (out July 13). The chart below shows the Manheim index vs used vehicles in CPI (of which it's about 4% of the total index) up to May. The monthly Manheim prices had been down 3 of the previous 4 months, with May breaking the streak.


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The closely-watched Manheim used vehicle index showed that US prices were unchanged in the first half of June vs a month earlier (and up 11.1% Y/Y). If sustained, that's a development that could keep core goods prices a little less deflationary in the June CPI report (out July 13). The chart below shows the Manheim index vs used vehicles in CPI (of which it's about 4% of the total index) up to May. The monthly Manheim prices had been down 3 of the previous 4 months, with May breaking the streak.


Keep reading...Show less