<p>Reports from the Manheim Used Vehicle Value Index. This tracks wholesale auction prices for used cars in the US.</p><p>+2.5% m/m in January, which follows a rise in December also (the rise in December was the first since May of 2022). </p><ul><li>index is now at its highest since August 2022</li></ul><p>Manheim’s wholesale index is viewed as a leading indicator for both new car prices and retail used car prices. </p><ul><li>Used-car prices account for about 4.5% of US core CPI</li><li>rising used car prices can push up the overall measure of inflation</li></ul><p>Its not just the jobs report from last Friday ( <a href="https://www.forexlive.com/news/forexlive-americas-fx-news-wrap-us-jobs-report-was-wow-number-20230203/" target="_blank" rel="follow" data-article-link="true">Forexlive Americas FX news wrap: US jobs report was a "WOW" number</a> ) that has Federal Reserve officials falling over each other to warn of the likelihood of further rate hikes:</p><ul><li><a href="https://www.forexlive.com/news/forexlive-americas-fx-news-wrap-us-dollar-climbs-as-risk-appetite-slumps-20230208/" target="_blank" rel="follow" data-article-link="true">Forexlive Americas FX news wrap: US dollar climbs as risk appetite slumps</a></li></ul>
This article was written by Eamonn Sheridan at www.forexlive.com.
