Justin Sullivan county Price Department Citi Justin Sullivan county Price

Used cars costing consumers $10,000 more than 'normal' as inflation rages

Reading now: 647
www.fox29.com

Prices for used vehicles have skyrocketed over the past two years, with consumers shelling out an average of $10,046 more than they would under normal market conditions, according to a new analysis conducted by CoPilot, an online car-shopping app.The average listing for a used vehicle climbed to $33,341 in June, a 0.5% increase from the previous month.

That is just $200 below a previous peak recorded in March. If depreciation forecasts are accurate, the average price for a used vehicle would actually be around $23,295.

FILE - Used cars are displayed on a sales lot on June 9, 2011 in Daly City, Calif. (Justin Sullivan/Getty Images)"Despite economic headwinds caused by inflation, interest rates and fuel prices, the continued inventory shortage in the new market as well as strong consumer demand are driving overall used car prices to near-record highs," CoPilot wrote in a blog post on its "Return to Normal" index.INFLATION TIMELINE: MAPPING THE BIDEN ADMIN'S RESPONSE TO RAPID PRICE GROWTHUsed car and truck prices have been a major component of scorching-hot inflation, with prices up 7.1% from the previous year, according to the most recent consumer price index from the Labor Department.

Prices in June — after briefly declining in April and moderating in May — surged again, jumping 2.2% on a monthly basis.Prices for used and new vehicles have climbed as a result of a semiconductor shortage as well as other COVID-19-induced disruptions in the global supply chain.

Read more on fox29.com
The website covid-19.rehab is an aggregator of news from open sources. The source is indicated at the beginning and at the end of the announcement. You can send a complaint on the news if you find it unreliable.

Related News

Make Chick-fil-A menu items at home with these copycat recipes from TikTok - fox29.com - city Sandwich
fox29.com
81%
263
Make Chick-fil-A menu items at home with these copycat recipes from TikTok
Chick-fil-A fans are figuring out how to make menu item favorites at home – and they're even sharing the recipes on TikTok. In a video series called "Fast Food at Home," TikTok user @ChefAlexandraa showed her followers how to make a copycat version of Chick-fil-A’s Spicy Chicken Sandwich. The video – which was originally posted in February – shows how to make a marinade and breading mixture for the chicken, and walks viewers through the process of prepping the dish and cooking it in an air fryer. CHICK-FIL-A IS AMERICA’S FAVORITE RESTAURANT FOR 8TH YEAR IN A ROWFans who prefer regular chicken sandwiches without the kick can turn to @at.home.cook’s copycat Chick-fil-A Chicken Sandwich recipe, which she posted on TikTok in December. After marinading the chicken in pickle juice, @at.home.cook shows viewers how she fried her breaded chicken breasts in peanut oil on the stove.CHICK-FIL-A BREAKFAST: WHAT TIME DOES IT END?Meanwhile, TikTok user @unboundwelnness posted this quick step-by-step clip in May showing how to make Chick-fil-A-style grilled chicken nuggets and a copycat Chick-fil-A sauce recipe. Fans of Chick-fil-A’s sweeter side can check out TikTok user @designeatrepeat’s video from June, which shows how to make a copycat Frosted Lemonade at home using ice cream and fresh lemons. Fans who aren't up for making Chick-fil-A at home can still upgrade their order at the drive-thru with this list of menu hacks from Chick-fil-A. Get updates to this story on FOXNews.com.
Shaynah Ferreira - Sam Collington - Safety concerns mount as Temple University welcomes students back to campus - fox29.com
fox29.com
57%
951
Safety concerns mount as Temple University welcomes students back to campus
PHILADELPHIA - As Temple University welcomes students back to campus ahead of the Fall semester, Philadelphia's gun violence crisis continues to spiral out of control leading to safety concerns. According to the latest data from the Philadelphia Police Department, there have been more than 340 homicides in the city this year. That number is outpacing 2021's historically tragic 562 murders by 2%, according to the data.Campus safety has always been a hot-button issue at Temple University, especially after the shooting death of Sam Collington in a botched robbery last fall. Temple University held a virtual forum on gun violence following the shooting death of 21-year-old student Sam Collington. Shaynah Ferreira has more on Good Day Philadelphia.To help quell the safety concerns of students and parents, Temple hired a Vice President of Public Safety and beefed up security measures. Stacey Achen, who dropped off her Alec on Tuesday, told FOX 29's Jennifer Joyce that she was hesitant to send her child to the school but was reassured after a campus visit. "I didn’t want him coming here, I was very concerned, but once we did a campus visit realized security is really tight, that was very reassuring," Achen said. MORE LOCAL HEADLINESTemple's police force last winter openly admitted that it was understaffed, operating at 60% normal capacity plus abnormal overtime shifts. The university responded by making more hires and upping patrols around campus as part of its safety enhancements shared by the school in March."It’s kind of a stigma around safety around here, but whenever I’ve been here it’s been safe never had any issues with it," Donnie Robson, a Temple freshman, said. Fall semester classes will start at Temple on Aug.
DMCA