- US inflation has touched 13-year highs, with prices rising across essentials (food, clothing, shelter) as well as big-ticket items (cars, housing).
- While food and clothing prices are 4-5% higher vs 2020, new car (+12%) and homes (+20%) prices are rising faster.
- The average new car is $38,255; demand is so strong that some one-year-old used cars are more expensive now than they were brand new.
- Gas prices have also increased 40% this year and average hotel room rates are 30% higher.
