US Consumer Price Growth Slows As Used-Car Prices Plunge

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Following the unexpected plunge in producer prices, analysts expected consumer prices to rebound in September, but it didn't as CPI was unchanged MoM and up 1.7% YoY (less than expected).

Source: Bloomberg

Goods price inflation slowed as services prices rose…

Source: Bloomberg

Under the hood, used car prices plunged.

The index for used cars and trucks declined in September, falling 1.6 percent. The apparel index fell 0.4 percent in September after rising in each of the prior 3 months. Also declining in September were the indexes for new vehicles, for communication, for alcoholic beverages, and for personal care. The recreation index was unchanged in September after rising in August.   

But shelter index continued to rise, increasing 0.3 percent in September following a 0.2-percent increase in August. The index for rent rose 0.4 percent and the index for owners' equivalent rent increased 0.3 percent. The index for lo
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