Economy

Used cars drive U.S. consumer prices higher in August

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Joel Porro and Lizz Hernandez wear gloves and protective masks as they put bags in the trunk of their car after shopping at Walmart Supercenter as the coronavirus pandemic continues, March 5, 2020 in Miami.

David Santiago | Miami Herald | Tribune News Service via Getty Images

U.S. consumer prices rose solidly in August, with the cost of used cars and trucks increasing 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 pressures last month. But this will have no impact on monetary policy as the Federal Reserve last month…



Source cnbc.com

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