Used car prices still up 85% despite 'considerable ease' in inflation

Quarterly rate of inflation slowed to just 2.2% with DoneDeal noting noticeable moderation amid era of sharp price rises

On the demand side, the report found that the cost of living crisis had put a dampener on consumer spending, leading to a fall in prices.

Used car prices are still 85% higher now than they were at the beginning of 2020, despite a "considerable easing" in price growth throughout 2023. 

In its latest car price index, DoneDeal said the era of sharp price inflation "moderated noticeably" last year, with the average quarterly rate of inflation slowing to just 2.2%.