U.S. used car and truck prices rise the most since 1969

WASHINGTON — U.S. consumer prices increased for a fourth straight month in September, with the cost of cars and trucks rising by the most since 1969, but inflation is slowing amid excess capacity in the economy as it gradually recovers from the COVID-19 recession.

a man in a police car parked in a parking lot

A 6.7% jump in the average prices of used cars and trucks again accounted for most of the increase in the CPI last month. That was the biggest gain since February 1969 and followed a 5.4% advance in August. The strong increases likely reflect a shortage of used motor vehicles amid an aversion to public transportation because of fears of contracting COVID-19.

New motor vehicle prices rose 0.3%. There were also increases in the costs of recreation. But prices for motor vehicle insurance, airline fares and apparel fell.

Though the benign report from the Labor Department on Tuesday will have no direct impact on

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Surge in Used Car Prices Keeps the CPI Positive

CPI Month-Over-Month Key Points

  • The Consumer Price Index for All Urban Consumers (CPI-U) increased 0.2 percent in September on a
     seasonally adjusted basis after rising 0.4 percent in August, according to the U.S. Bureau of Labor Statistics.
  • The index for used cars and trucks continued to rise sharply and accounted for most of the monthly increase in the seasonally adjusted all items index. The index for used cars and trucks rose 6.7 percent in September, its largest monthly increase since February 1969. 
  • The food index was unchanged, with an increase in 0.8 percent in September.

  • The energy index rose 0.8 percent in September as the index for natural gas increased 4.2 percent.

  • The index for all items less food and energy rose 0.2 percent in September after larger increases in July 

CPI and Core CPI Year-Over-Year 

CPI and Core CPI Year-Over-Year 2020-09

Year-Over-Year Key Details

  • Over the last 12 months, the all items index rose 1.4
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The inventor of the bouncy house was a car nut and his collection’s for sale

It turns out the inventor of the bounce house was a secret car enthusiast. Bob Regehr stashed away hundreds of cars (and a few tractors) before his death in September 2019, and 140 of them are now up for grabs. The massive collection will be sold off by VanDerBrink Auctions on October 24.

Regehr began collecting cars when he was just 14 years old, buying a 1940 Mercury. He later became a car salesman, and then opened a Texaco station, in order to be around cars. The gas station made some money, allowing Regehr to make offers when cars he liked rolled in for a fill-up.

In 1968, Regehr got the idea to put a cover over a trampoline, debuting his creation at the 1968 Chicago World’s Fair. That invention led to financial success, allowing Regehr to further indulge his passion for cars.

Hot Rod published a story on the

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Train Car for Sale in Marfa, TX, Could Be a Cool Getaway Plan

The tiny town of Marfa wasn’t always a hip area for artists. Before the migration of creative types to this small speck of desert in west Texas, Marfa was a train city with lines rumbling right through town.

Even today, “the train is such a presence in Marfa,” says Lauren Meader Fowlkes of Far West Texas Realty. She’s the listing agent for a decommissioned caboose now on the market for $285,000. “We’re a town built around the rail line.”

Now, in a fun nod to the town’s railroad history, this Santa Fe Railroad steel caboose seeks a new owner. Built in 1948 as one of three for the rail company, the caboose was pulled out of service in 1984. The train car weighs just shy of 60,000 pounds.

The current owner has owned the caboose for years.

“She bought it for her 40th birthday,” explains Meader Fowlkes. “They’ve had it

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BMW owner spots own car for sale on Facebook Market in scam | 1 NEWS

Tony Bing’s attempt to sell his car quickly turned strange, after he began receiving messages from a site he’d never placed an ad.

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When Tony saw a surge of interest in his listing, he discovered something untoward on Facebook Market.

Source: Seven Sharp

He had put his BMW on Trade Me for $15,000. Initially, there wasn’t too much interest.

Then suddenly the messages started flooding in.

“[There were] people wanting to come and look at the car. Did I still have it? ‘I’ll be round in half an hour to see it’,” Bing told Seven Sharp. 

“Everyone’s really keen to look at this car all of a sudden. And then someone said, ‘Is the price still reduced to $6000?’.”

Investigating, Bing discovered something untoward on Facebook Market.

His Trade Me ad had been duplicated and added to Facebook – with the price reduced

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