Persistent Car Costs Keep Inflation High as Consumers Weather Price Surge
- Car prices remain elevated due to supply chain issues and fewer vehicles being produced.
- Used car prices have dropped unevenly, providing little relief.
- Automakers are making fewer cars and focusing on more profitable luxury models to boost margins.
- The car market has drastically changed due to the pandemic, as many consumers continue spending despite higher costs.
- The Federal Reserve faces a prolonged battle to curb inflation as prices stay hot and consumer demand persists.
Boston Globe 