October 13, 2017
A largely overlooked item that has been a major factor in inflation is auto insurance, the price of which rose 0.5 percent in September. Auto insurance prices have risen by 8.2 percent over the last year. This is actually an important component of the CPI, accounting for 2.6 percent of the overall index. This is less than the 6.7 percent weight for medical care services, but far more than the 1.8 percent weight for college tuition. For more, check out the latest Prices Byte.