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Why used car prices went absolutely insane last month.

Why used car prices went absolutely insane last month.

You thought the price of wood was nuts? Just check out what’s going on at car dealerships. After cooling off a bit from a surge last year, the cost of used vehicles suddenly shot up 10 percent in April alone, according to the Bureau of Labor Statistics’ official inflation report on Wednesday. The sudden acceleration was the largest one-month increase in the category since the government began tracking the Consumer Price Index in 1953.