Big Drop In Used Car Prices Helps Disinflation Stars Align

There was more incrementally good news on the inflation front Monday in the US, when a key gauge of used vehicle prices posted the largest monthly decline since the onset of the pandemic. The used car market remains a key piece of the disinflation puzzle for the Fed, although investors' waning interest in the trajectory of prices is perhaps indicative of the extent to which this isn't necessarily mission critical anymore. The Manheim gauge receded 4.2% in June from May, an outsized decline tha