How cars — new, used and rental — are putting inflation into high gear
CBSN
Consumer prices are shooting upward at the fastest rate in 13 years. Driving that surge are — drivers. American motorists and their wheels — cars and trucks; new, used or rented — are a major culprit pushing consumer prices to the breaking point.
The Consumer Price Index for used cars and trucks saw its biggest monthly increase since 1953. That surge alone was responsible for one-third of the increase of the overall CPI. Meanwhile, new car prices continue to climb. The average new car bought in May cost more than $41,000, according to Kelley Blue Book — a jump of over $2,000 from the year-ago period. "We're seeing record used vehicle prices, and we're also seeing record average transaction prices for new vehicles," said Matt DeLorenzo, senior managing editor at Kelley Blue Book.After four days of voting, with more than 400 million people eligible across 27 countries, European voters have pulled the bloc's 720-seat parliament farther to the right than it has ever been. The European Parliament, for the next five years, will now have a record number of far-right legislators. Far-right parties made gains in Europe's top three economies — Germany, France and Italy — with gains by politicians who campaigned against immigration, against support for Ukraine and against climate policy.
Apple's annual Worldwide Developers Conference is typically a springboard for the company to announce new tech features for its software programs, and not as flashy as its yearly September event to trumpet its latest iPhone rollout. But this year, the WWDC could be a make-or-break moment for the tech giant.