The US used-car bubble has burst ...Middle East

The US consumer price index rose 0.5% in July—the lowest such month-on-month rise since February, according to new data released by the Bureau of Labor Statistics. The tempered rate of inflation, which should allay the market’s fears of an overheated economy, owed a lot to a slowdown in the prices of used cars, which had galloped upwards in the spring and early summer.The price index for used vehicles rose 0.2% in July, after having risen at least 7.3% in each of the previous three months. The category was one of the few, along with hotel rooms and airfares, that drove recent inflation, the economist Paul Krugman pointed out on Twitter. “Combined, these three sectors account for…more than 1/

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The US used-car bubble has burst ...Middle East

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