Inflation may be cooling, but car insurance rates are revving up. Here's why.
Auto insurance has gone up 19.5% since June of last year, according to the latest Consumer Price Index data. The reason? Getting T-boned by inflation.
Khristopher J. Brooks writes about business, economic and financial topics for CBS News and CBS MoneyWatch. His reporting primarily focuses on the U.S. housing market, the business of sports and bankruptcy. Brooks' journalism career started in 2006 as a business and education reporter for the Bristol (Va.) Herald Courier. Before coming to CBS MoneyWatch, Brooks covered startups and entrepreneurship for the Rochester Democrat & Chronicle and local government for Newsday. He holds a bachelor's degree in journalism from Central Michigan University and a master's degree in literary reportage from New York University.
Auto insurance has gone up 19.5% since June of last year, according to the latest Consumer Price Index data. The reason? Getting T-boned by inflation.
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