Quote:
Originally Posted by Velvet
My guess is insurance companies factor in things that are more relevant to their circumstances, such as hurricane and flooding damage, as compared to say, increases in the price of groceries and fuel.
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The question was whether any of the various CPIs use insurance increases to determine the rate of inflation. In the past few years, insurance has increased much faster than most other items.
Car insurance went up 26% from 2023 to 2024. If the CPI doesn’t use insurance as one factor to determine inflation, the figures are not accurate.