BLS Report: CPI for all items rises 0.2% in September as used cars and trucks index increases

[mahatmakanejeeves]

CPI for all items rises 0.2% in September as used cars and trucks index increases

Economic News Release USDL-20-1925

Consumer Price Index Summary

Transmission of material in this release is embargoed until 8:30 a.m. (ET) October 13, 2020

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CONSUMER PRICE INDEX – SEPTEMBER 2020

The Consumer Price Index for All Urban Consumers (CPI-U) increased 0.2 percent
in September on a seasonally adjusted basis after rising 0.4 percent in August,
the U.S. Bureau of Labor Statistics reported today. Over the last 12 months,
the all items index increased 1.4 percent before seasonal adjustment.

The index for used cars and trucks continued to rise sharply and accounted for
most of the monthly increase in the seasonally adjusted all items index. The
food index was unchanged, with an increase in the food away from home index
offsetting a decline in the food at home index. The energy index rose 0.8
percent in September as the index for natural gas increased 4.2 percent.

The index for all items less food and energy rose 0.2 percent in September
after larger increases in July and August. The index for used cars and trucks
rose 6.7 percent in September, its largest monthly increase since February 1969.
The indexes for shelter, new vehicles, and recreation also increased in September.
The indexes for motor vehicle insurance, airline fares, and apparel were among
those to decline over the month.

The all items index rose 1.4 percent for the 12 months ending September, a
slightly larger increase than the 1.3-percent rise for the 12-month period
ending August. The index for all items less food and energy rose 1.7 percent
over the last 12 months, the same increase as the period ending August.
The food index increased 3.9 percent over the last 12 months, while the energy
index declined 7.7 percent.

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[CountAllVotes]

1. Gee, for the last 6 months+ inflation is based on ...

Used car sales!

That should tell you something.

No one can afford to buy a new car so they are buying old cars instead which seem to be holding their values quite well.

This seems very strange to me.

What do others think? Am I alone in this thought or what?

& recommend.