Consumer Price Index Shows Car Prices Are Surging

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But you probably already knew that…

We don’t need the United States Bureau of Labor Statistics to tell us the price of new and used cars has been surging lately, but it still helps when it does. The government agency dropped that bomb recently in its monthly and annual update to the Consumer Price Index (CPI)

With the release of the CPI, we now know just how much new car prices have officially increased, at least according to the federal government. For the December report, CPI for new vehicles increased 1.0 percent while compared to 12 months ago they shot up 11.8 percent.