LANSING, Mich. (WLNS) — As always we took a look at the top trending stories on our website during 6 News This Morning.
Here is a breakdown of those stories:
U.S. Inflation Rises to 39-Year-High
The most recent Consumer Price Index Report shows inflation has now reached the highest rate in more than three decades.
Consumer prices rose 6.8% for the 12 months ending in November.
Many economists expect inflation to remain near this level for a few more months, but then moderate throughout 2022.
Russell Price, Chief Economist at Ameriprise, says one reason for the expected moderation is improving supply chains following a pandemic.
“It’s in no one’s interests to have the supply chain as disruptive as it has been,” Price said.
Economists believe the increasing availability of everything from computer chips to shipping containers next year will help inflation to ease.
The U.S. government will also potentially offer less aid to households in 2022. This could potentially lead to fewer purchases by Americans, further putting less pressure on inflation.
Used Car Prices Up 28% From 2020
Used car prices in November increased an average of 27.9%, which is up from a 24.9% increase in October.
The average used vehicle is being priced nearly $7,000 above where it was last November according to iSeeCars.com.
These price bumps are the result of supply and microchip shortages that continue to impact the market.
“Used car prices had drifted down, slightly, since they peaked in June, but they are back on the rise again. With microchip shortage-related plant shutdowns persisting throughout the year, automakers have not kept pace with pent-up demand, and lingering supply constraints that are expected to continue well into 2022.”Karl Brauer, iSeeCars’ Executive Analyst
The vehicles with the highest price increases are mainly economy cars. The cars with the smallest price increases are mainly luxury cars.
The car with the largest price increase is the Nissan LEAF, which has risen in price by 64% since November of 2020.