If your insurance rates have been climbing, you’re not alone as the U.S. Bureau of Labor Statistics revealed the Consumer Price Index rose 0.4% last month. Drivers were hit particularly hard as there were increases in the indexes for gasoline and motor vehicle insurance.
However, it wasn’t all bad news as “indexes for used cars and trucks, recreation, and new vehicles were among those that decreased over the month.” Furthermore, on an unadjusted 12 month basis, the new car index fell a tenth of a percent, while the index for used cars and trucks dropped 2.2%.

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Car Insurance Prices Set to Jump By 20%

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