The latest figures from the U.S. Bureau of Labor Statistics are almost enough to force folks off the road – a 19 percent increase in auto insurance rates. Dr. Aaron Yelowitz is an economics professor at the University of Kentucky’s Gatton College of Economics. He has a few theories about the massive increase.
“Car prices and repair costs are going up. Also related to that, in every sector, there are shortages -- labor to repair cars. I've even seen this one when I've gotten my car serviced, right, changing the oil, it just takes longer.”
