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. |
Minor league infielder Keiner Delgado traded from Yankees to Pittsburgh PiratesApple launches new Beats headphones with 50Olympic refugee athlete Lohalith suspended in the team's 3rd doping case ahead of Paris GamesTrump hush money trial: What to know as week 2 of testimony opensAnalysis: McIlroy had a blast in New Orleans. It was just what he neededA missing Utah cat with a fondness for boxes ends up in Amazon returns warehouse, dehydrated but OKThe 4 officers killed in North Carolina were tough but kind and loved their jobs, friends sayEfficient Real Madrid making an art form of scoring when least expectedWhoopi Goldberg fights back tears as The View host defends 'mad' student protestersKing Charles marks return to public duties wearing his famed pink T