If you just had your car repaired and were shocked when presented with the bill, you aren’t imagining things. Fixing cars now costs far more than it did even 12 months ago, the latest consumer price index putting the rise at a shocking 20 percent.
That’s at least six times more than the 3 percent overall rise for all categories examined in the price index, so what on earth is driving up repair costs so fast? Experts say it’s not the result of one event or change, but a combination of multiple factors, and it looks like most of them aren’t going to change any time soon.
A report by CNBC investigating the spike in repair costs over the past year came up with 6 reasons prices have risen so much above the rate of inflation, and the first of those is that cars have become far more complicated in recent years.
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