• Automotive

    Used car prices surge as consumer prices rise 0.4{09c3c849cf64d23af04bfef51e68a1f749678453f0f72e4bb3c75fcb14e04d49} in August

    WASHINGTON (AP) — U.S. consumer prices rose 0.4{09c3c849cf64d23af04bfef51e68a1f749678453f0f72e4bb3c75fcb14e04d49} in August as used car prices surged by the largest amount in 51 years, the Labor Department reported Friday. The August increase in the consumer price index reflected some moderation following big gains of 0.6{09c3c849cf64d23af04bfef51e68a1f749678453f0f72e4bb3c75fcb14e04d49} in both June and July as the pace of energy price gains slowed. However, there were still areas that showed bigger price increases, led by a 5.4{09c3c849cf64d23af04bfef51e68a1f749678453f0f72e4bb3c75fcb14e04d49} jump in used car prices, the biggest monthly gain since March 1969. New car prices were unchanged in August but analysts predict prices are likely to rise in coming months, reflecting supply shortages. Motor vehicle production closed completely during the…

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