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Data: U.S. Bureau of Labor Statistics via FRED; Chart: Axios Visuals

Consumer Price Index data released Wednesday showed used-vehicle prices continue to surge. As of December, they were up 37% compared to the previous year.

Why it matters: Analysts have been watching used-vehicle prices as a microcosm of the broader U.S. inflation story, encompassing both the disarray of global supply chains and the surge in demand for goods.

  • Prices of used cars and trucks were the second-biggest driver — after shelter — of the monthly increase in consumer prices in December, responsible for almost a quarter of the change.

The big picture: The global chip shortage has slowed vehicle assembly lines worldwide, driving a wave of buyers to the used-car market and prices sharply higher.

What's next: Not relief. A forward-looking gauge of wholesale used-car prices that tends to predict the direction of consumer prices surged yet again in December, suggesting upward pressure on cars — and inflation more broadly — shows no signs of abating.

Go deeper: Inflation hit 7% in December, highest since 1982

Go deeper

Hope King, author of Closer
Jan 14, 2022 - Economy & Business

Record level consumer demand drops as high prices surge

Data: FRED; Chart: Thomas Oide/Axios

Record levels of consumer demand are petering out as high prices cut into wages and add to household worries.

Why it matters: Shoppers will hold off on buying if goods get too expensive — a trend that if big enough could slow down economic growth.

Rising mortgage rates could slow house price surge

Chart: Axios Visuals

Mortgage rates have jumped to their highest level since early 2020.

Why it matters: The rising cost of home loans could slow the booming American market for residential real estate.

Corporate America's incredibly profitable pandemic

Expand chart
Data: S&P Dow Jones Indices; Chart: Thomas Oide/Axios

Companies are about to blast out a blizzard of quarterly profit and sales numbers over the next few weeks, as the carnival of Q4 corporate results kicks off.

Driving the news: Large banks will open the floodgates, issuing reports early Friday that mark the unofficial start of earnings season on Wall Street.