Insurance has become one of the most visible and persistent indicators of inflation in household budgets. Rates for health, auto, life, and property insurance have been soaring, all of which preceded the recent shock to energy prices.
The latest consumer price index data reflected the impact of higher energy prices, showing year-over-year inflation of 12.5%. That compounds the challenge of consumers trying to budget for those higher prices at a time when their fixed costs, such as insurance, are already elevated.
