Consumer prices in April were 4.9% higher than a year ago, according to the Labor Department. Prices rose 0.4% between March and April.

The average new vehicle costs nearly $49,000, an almost $10,000 increase from before the pandemic. This is a look at today's deeply weird auto market.

The average cost of a new car is also at the highest on record, topping $47,000 a pop. At this rate, an essential household purchase is starting to feel like a luxury in America.

A surge in prices of used cars was a major driver of inflation again in June, but there are some signs those price hikes may be shifting into reverse.

The Labor Department says consumer prices jumped 5% for the 12 months ending in May. That's the sharpest increase in nearly 13 years, as the economy rebounds from the pandemic recession.

The supply of used cars is tight, while demand is high. That can provide a big boost to car owners thinking of selling, but it can make affordable vehicles hard to find.