Consumer Price Index: Difference between revisions

Consumer Price Index (view source)

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 ''Main article: [[Consumer Price Index:Historical Releases]]''
-''Latest release: [[Consumer Price Index:Historical Releases/2023 August]]''
+''Latest release: [[Consumer Price Index:Historical Releases/2023 September]]''
 * U.S consumer price index(CPI) rose 0.6% in August, in-line with the estimate and above the 0.2% growth in July.
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 |'''Market Reaction'''
 |'''Full Release'''
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 ==== Used ====
-* Wholesale used-vehicle prices increased 1.0% in September from August. The Manheim Used Vehicle Value Index rose to 214.3 in September, down 3.9% from a year ago.
+* Wholesale used-vehicle prices (on a mix, mileage, and seasonally adjusted basis) decreased 2.3% in October from September. The Manheim Used Vehicle Value Index (MUVVI) dropped to 209.4, down 4.0% from a year ago.
-* Over the month of September, daily MMR Retention, which is the average difference in price relative to the current MMR, averaged 99.2%, meaning market prices were slightly below MMR values.
+* In October, Manheim Market Report (MMR) values saw above-average weekly declines that peaked in intensity in the middle of the month. Over the last four weeks, the Three-Year-Old Index declined an aggregate of 3.6%. Those same four weeks delivered an average decline of 2.4% in 2014-2019.
-* The average daily sales conversion rate declined to 55.7%, which was close to normal for the time of year. For comparison, the daily sales conversion rate averaged 55.3% in September 2019. The sales conversion rate in September was lower than in August but stronger than in June and July.<ref>https://www.coxautoinc.com/news/september-2023-muvvi/</ref><ref>https://www.coxautoinc.com/market-insights/september-2023-muvvi/</ref>
+* Over the month of October, daily MMR Retention, which is the average difference in price relative to the current MMR, averaged 98.6%, meaning market prices were below MMR values. The average daily sales conversion rate dropped to 52.9%, which indicates that demand has declined but remains at a decent level for this time of year. For comparison, the daily sales conversion rate averaged 52.2% in October 2019.
+* The sales conversion rate in October was the lowest in three months but stronger than in June and July.<ref>https://www.coxautoinc.com/market-insights/october-2023-muvvi/</ref>
 == CPI During Recession ==