As Car Prices Fall, Motorists Are Left Paying Higher Auto Insurance Costs As Premiums Bounce Upwards
American motorists are in for a surprise this year, as car and auto insurance costs are set to increase, against the backdrop of two-year-high inflation, a tight labor market, and a shortage in spare parts. Q4 2022 hedge fund letters, conferences and more Last December, the Consumer Price Index (CPI) closed off the year at 6.5%, a consecutive decline from November 2022. Although inflation has been cooling, and car prices have stabilized in recent months, due to aggressive interest rate hikes by the Federal Reserve, some motorists will be surprised to see how much their premiums have increased ...