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:
Related suggestion:
Vietnam nominates its public security minister as new presidentNot just an 'urban legend': The mileRinus VeeKay overcomes early crash with final flourish to make Indianapolis 500 pole shootoutLoose Women star Kaye Adams reveals she was groped by her boss in front of her laughing coAlise Willoughby of US, Joris Daudet of France win BMX racing world titles ahead of Paris OlympicsNoncitizen voting becomes a center of 2024 GOP messagingPogacar extends Giro lead to nearly 4 minutes after stage 14 time trial won by GannaMeet the woman poleMunich airport closes after climate activists glue selves in protestWoman held on suspicion of assault after launching 20
2.36s , 6496.34375 kb
Copyright © 2024 Powered by Surging auto insurance rates squeeze drivers, fuel inflation ,Global Gleam news portal