For signs that inflation may be easing, Wall Street pros have an unlikely source — the price of used cars. The Manheim Used Car Price Index fell to 205.9 in September from 210.8 in August. Since the beginning of the year, the index has declined nearly 13%. The consumer price index paints a similar picture — in August, used car and truck prices fell 0.1% from the previous month, according to the Bureau of Labor Statistics.
"For the ten years ending 2019, , used car prices appreciated at a 2% annual rate — consistent with overall inflation," said Kevin Barry, chief investment officer of Summit Financial in Parsippany, New Jersey, in a note. "For the two years ending 2021, the pace of increase was 10X the previous ten years.
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