Surging auto insurance rates squeeze drivers, fuel inflation
NEW YORK (AP) — Relentlessly rising auto insurance rates are squeezing car owners and stoking inflation.
Auto insurance rates rose 2.6% in March and are up 22% from a year ago. Premium costs have been marching steadily higher since 2022, even as inflation at the consumer level steadily cooled from its 9.1% peak in the middle of that year. Consumers have had some relief as the rate of cost increases for food and energy, two key components of most budgets, has eased greatly.
But auto insurance and car ownership costs have become a sticking point for consumers and the Federal Reserve in its battle to rein inflation back to its goal of 2%.
Typically, individuals would see a noticeable increase in their premiums because of speeding tickets and other moving violations. Adding new drivers or a general increase in claims in the area were other reasons.
Related articles
155 police officers injured at German soccer match, most from tear
BERLIN (AP) — Some 155 police officers were injured in fighting involving Dynamo Berlin and Energie2024-05-07Almost 100 aftershocks recorded overnight following Taiwan's 7.3
A total of 96 aftershocks were recorded on Wednesday night and Thursday early morning following the2024-05-07Xi Jinping Replies to Letter from Artists of China Oriental Performing Arts Group
Contact Us HomeNewsHighlightACWF NewsSocietyWom2024-05-07- Contact Us HomeNewsHighlightACWF NewsSocietyWom2024-05-07
Chad holds presidential election after years of military rule
N’DJAMENA, Chad (AP) — Voters in Chad headed to the polls on Monday to cast their ballot in a long d2024-05-07Protein markers tied to chemotherapy success
Doctors in Shanghai have screened two protein markers to determine pancreatic cancer patients' s2024-05-07
atest comment