The 7% inflation number is measured as an increase in prices in consumer goods. Used car prices are up >30% and are a significant piece of consumer spending.
Perhaps because the demand for vehicles post COVID is exceeding supply.
However, is it just drawing forward future demand, which would mean the inflation is temporary?
I mean after a 2 year recession caused by the pandemic, in terms of large consumer items, like vehicles, you'd expect that. People want/need to start travelling again.
