Consumer Price Index: Difference between revisions

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 ===6. Energy===
 Past Developments: [https://www.investmentwiki.org/wiki/Energy_Industry#Price_Developments Energy Industry]
-*Oil prices were very volatile during may, however it ended the month significantly lower than last month at about $68.  <ref>https://www.bloomberg.com/quote/CL1:COM</ref>
-*Gasoline prices went from 3.711 to 3.684. Small decline of almost 1%.<ref name=":13">https://www.eia.gov/dnav/pet/hist/LeafHandler.ashx?n=pet&s=emm_epm0_pte_nus_dpg&f=w</ref>
+* Oil prices were slighty up from $67 to $70 in june, but was volatile in a range from $72 to $67<ref name=":2">https://www.bloomberg.com/quote/CL1:COM</ref>
-*Natural Gas prices went from 2.32 to 2.26. Relatively flat during the month.<ref>https://www.bloomberg.com/quote/NG1:COM</ref>
+* Gasoline prices were unchanged, but increased a bit in the middle of the month. <ref name=":1">https://www.eia.gov/dnav/pet/hist/LeafHandler.ashx?n=pet&s=emm_epm0_pte_nus_dpg&f=w</ref>
-*The future markets continue to expect lower oil prices, now at $66.95 at year end. <ref>https://www.cmegroup.com/markets/energy/crude-oil/light-sweet-crude.quotes.html</ref>
+* Natural gas prices were up 30% , from 2.16 to 2.80.<ref name=":32">https://www.bloomberg.com/quote/NG1:COM</ref>
+* Futures market is now pricing an increase in oil prices, at $72.32 at year end. <ref name=":42">https://www.cmegroup.com/markets/energy/crude-oil/light-sweet-crude.quotes.html</ref>
 ===7. Car Prices===
 Past Developments: [[Automotive Industry:United States#Prices|Automotive Industry:United States]]
 ==== Used ====
+The 4.2% drop is among the largest declines in MUVVI history and the largest decline since the start of the pandemic in April 2020 when the index plunged 11.4%<ref>https://www.coxautoinc.com/market-insights/june-2023-muvvi/</ref>
-* Wholesale used-vehicle prices decreased 2.7% in May from April. <ref>https://www.coxautoinc.com/market-insights/may-2023-muvvi/</ref>
+* Wholesale used-vehicle prices decreased '''4.2% in June from May.'''
-* The Manheim Used Vehicle Value Index (MUVVI) declined to 224.5, down 7.6% from a year ago.
+* The Manheim Used Vehicle Value Index (MUVVI) declined to 215.1, '''down 10.3% from a year ago.'''
-* In May, daily MMR Retention, which is the average difference in price relative to the current MMR, averaged 98.7%, meaning market prices were below MMR values
+* Over the month of June, daily MMR Retention, which is the average difference in price relative to the current MMR, averaged 98.4%, meaning market prices were below MMR values.
-* Compared to last month, vans actually increased by 0.2%, while compact and midsize cars declined by 2.4% each. SUVs were flat versus April, with luxury and pickups down 3.0% and 4.3%, respectively.
+* Compared to June 2022, pickups and vans lost less than the industry, at 6.6% and 8.5%, respectively. While sports cars fared the worst at 14.8% year-over-year, compact cars lost 12.6%, and midsize cars were off by 12.2%.
 ==== New ====
+Not yet available.
-* The average transaction price (ATP) of a new vehicle in the U.S. increased in May 2023 to $48,528, a month-over-month increase of 0.5% ($251) from an upwardly revised April reading of $48,277.<ref>https://www.coxautoinc.com/market-insights/kbb-atp-may-2023/</ref>
-* New-vehicle transaction prices in May were up 3% ($1,393) compared to year-ago levels. The year-over-year increase in May of 3% was the smallest in 2023
-* Auto manufacturers’ incentive spend in May rose to the highest level in the past year at 3.9% of the ATP, averaging $1,914. One year ago, average incentive spending was 2.5% of ATP.
-* In May 2023, the average price consumers paid for a new vehicle fell to $410 below MSRP, or sticker price. For comparison, a year ago, the average ATP was $637 above MSRP.
 == CPI During Recession ==