CPI Report Shows Auto Insurance Prices Increasing
A recent Consumer Price Index Report (CPI) shows American auto insurance policy prices have increased one fifth of one percent between March and April 2011. This information is according to another report regarding auto insurance prepared by the Bureau of Labor Statistics (BLS). In the latest (CPI) report, the BLS found the cost of an average auto insurance policy in April 2011 was up nearly 4 percent higher than statistics compiled in the month of April of last year.
This increase in auto insurance policy prices is small compared to April and prior months while compared to the increase in costs for all goods and services which were followed as part of the Consumer Price Index. Even though auto insurance policy prices have increased by only 0.2 % in March, prices for all goods & services have jumped by near one full percentage point.
A similar statistic was found in prior Consumer Price Index Reports. Auto Insurance prices have risen only 0.1 percentage point during the months of both February and March, while the price of all other goods and services increased by a whopping 1 full percent point during the same two months. The ongoing soft auto insurance marketplace in the United States shows increases in those costs have been small in 2011.
Tthe auto insurance prices outlined in the CPI Report have been slowly increasing, overhead and expenditures may have stayed the same or even dropped. The reason for this is customers take steps to limit their individual costs.
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