Filed Under:Markets, Personal Lines

Auto insurance rose over 7 percent in January's consumer price index

The price of auto insurance continues to rise. (Photo: iStock)
The price of auto insurance continues to rise. (Photo: iStock)

The consumer price index increased 0.6 percent in January on a seasonally adjusted basis, the U.S. Bureau of Labor Statistics reported today. Over the last 12 months, the all items index rose 2.5 percent before seasonal adjustment.

The overall index rose to 2.5 percent in January from 2.1 percent in December. 

A major uptick came from the energy index, rising 4 percent, with energy commodities and gasoline both noting close to 8 percent increases. A nationwide average of $2.30 for a gallon of gasoline, up from under $2 last spring, has pinched U.S. households, as reported by Marketwatch

The food index rose 0.1 percent in January, its first increase since April 2016. The index for food away from home rose 0.4 percent, its largest increase since September 2015. The food at home index was unchanged in January after declining in recent months. 

Tenants' and household insurance dipped 0.1 percent, down from December's increase of 0.0 percent; repair of household items rose 4.9 percent, down from December's increase of 5 percent. 

Related: 9 consumer-friendly auto insurance innovations

Insurance-related figures


The consumer price index for Auto insurance rose 7.5 percent in April, which was up from December's increase of 7 percent. Tenants’ and household insurance dipped 0.1 percent in January, which was down from March’s increase of 1.5 percent.

CPI January 2017

 (Source: Insurance Information Institute)

Featured Video

Most Recent Videos

Video Library ››

Top Story

Top 10 commercial auto carriers for 2016, as ranked by the NAIC

Direct written premiums for the commercial auto insurance market totaled $14.33 billion for 2016.

Top Story

25 U.S. cities with the highest risk of home fires

Structure fires caused a total of $10.3 billion in damage in 2015 — with the majority of the losses sustained by residential properties ($7.2 billion).

More Resources

Comments

eNewsletter Sign Up

PropertyCasualty360 Daily eNews

Get P&C insurance news to stay ahead of the competition in one concise format - FREE. Sign Up Now!

Mobile Phone

Advertisement. Closing in 15 seconds.