Used-Car Prices Soar As Shelter/Rent Costs Slow In September CPI Data Tyler Durden Tue, 10/13/2020 - 08:40 Consumer prices Source: Bloomberg The big driver on the downside was shelter/rent inflation collapsing: Shelter inflation up 2.04% Y/Y, lowest since Feb 2012 Rent inflation up 2.72% Y/Y, lowest since April 2013 Additional drags included motor vehicle insurance, which declined in September, falling 3.5 percent. The index for airline fares fell 2.0 percent in September after rising in each of the previous 3 months. The apparel index also turned down in September, falling 0.5 percent after rising the last 3 months. The education index fell 0.3 percent in September, the same decline as in August. The index for household furnishings and operations fell slightly in September, declining 0.1 percent after rising 0.9 percent in August. The indexes for communication and for alcoholic beverages also declined in September. As was the case last month, the index for used cars and trucks was the dominant factor; it rose 6.7 percent in September following a 5.4-percent increase in August. The used cars and trucks index accounted for more than 100 percent of the monthly increase in the index for all items less food and energy. The index for new vehicles increased 0.3 percent in September after being unchanged in August. The recreation index rose 0.2 percent in September after rising 0.7 percent in August. The medical care index was unchanged in September with its components mixed; the hospital services index rose 0.6 percent, while the physicians’ services index declined 0.3 percent and the prescription drugs index fell 0.1 percent. Crucially, Goods prices are accelerating as Services price growth is slowing rapidly... Source: Bloomberg