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You are here: Home / Archives for Inflation

U.S. Auto Body Repair Prices Up Over 8% in April Compared to Last Year

May 11, 2023 By CollisionWeek Editor Leave a Comment

On a year-over-year basis, the rate of increase in auto body repair prices is down from recent months and the all-time high in July but continues above the rate of inflation. The most recent government figures on inflation through April, released May 10, show the rate of growth of auto body repair prices continues to […]

Filed Under: Research Tagged With: Auto Body Repair Prices, consumer price index, Inflation

Small Business Owners’ Confidence in the National Economy Drops

March 29, 2023 By CollisionWeek Editor

Inflation concerns continue as just 1 in 5 small businesses believe the U.S. economy is in good health. The MetLife and U.S. Chamber of Commerce Small Business Index, released today, dropped slightly this quarter to 60 from 62.1 as small business owners’ outlook on the national economy weakened. One in five (20%) small business owners […]

Filed Under: News Tagged With: Inflation, Small Business Confidence, U.S. Chamber of Commerce

U.S. Auto Body Repair Prices Up Over 9% in February Compared to Last Year

March 16, 2023 By CollisionWeek Editor

On a year-over-year basis, the rate of increase in auto body repair prices is down from last month and the all-time high in July but continues above the rate of inflation. The most recent government figures on inflation through February released Tuesday, March 14 show the rate of growth of auto body repair prices is […]

Filed Under: Research Tagged With: Auto Body Repair Prices, consumer price index, Inflation

Consumer Sentiment Up for Second Month in a Row

January 30, 2023 By CollisionWeek Editor

University of Michigan reports growing borrowing costs offset easing inflation as consumer concerns. Consumer sentiment lifted for the second straight month in January, rising 9% above December but remaining about 3% below a year ago, according to the University of Michigan Surveys of Consumers. The Consumer Sentiment Index rose to 64.9 in the January 2023 […]

Filed Under: News Tagged With: Consumer Sentiment Index, Inflation, University of Michigan

Interview: Bill Brower, VP of Industry Relations at Solera

January 13, 2023 By CollisionWeek Editor

Brower details how inflation is impacting severity as parts and labor costs have increased. Examines how auto insurance companies and the collision repair industry globally are responding. The impact of inflation on critical cost drivers for the auto claims and collision repair industries has increased claims severity across the globe. As CollisionWeek has reported, key […]

Filed Under: Feature Tagged With: Claim Severity, Inflation, Interview, Labor Rates, Solera

U.S. Auto Body Repair Prices Up Over 12% in November Compared to Last Year

December 14, 2022 By CollisionWeek Editor

The rate of increase in auto body repair prices is down from last month and the all-time high in July but continues above the rate of inflation. The most recent government figures on inflation through November released Tuesday, December 13 show the rate of growth of auto body repair prices is above the rate of […]

Filed Under: Research Tagged With: Auto Body Repair Prices, consumer price index, Inflation

Americans Will Pay 16% More for Auto Insurance by the End of 2023

December 8, 2022 By CollisionWeek Editor

According to Insurify report, after a 9% increase in 2022, prices are projected to rise another 7% by the end of next year. The average American driver will pay nearly $1,900 for car insurance in 2023, as insurance rates continue to rise across the country. This is according to the Insurify 2022 Auto Insurance Trends […]

Filed Under: News Tagged With: Auto Insurance, Electric Vehicles, Inflation, Insurify, Premiums

U.S. Auto Body Repair Prices Up Over 13% in October Compared to Last Year

November 18, 2022 By CollisionWeek Editor

The increase in auto body repair prices is down from the all-time high in July but continues above the rate of inflation. The most recent government figures on inflation through October show the rate of growth of auto body repair prices is above the rate of general inflation for the 16th month in a row, […]

Filed Under: Research Tagged With: Auto Body Repair Prices, consumer price index, Inflation, Labor Rates, Wages

U.S. Real Gross Domestic Product Up in Third Quarter

October 27, 2022 By CollisionWeek Editor

Real gross domestic product (GDP) in the U.S., that is adjusted for inflation, increased at an annual rate of 2.6 percent in the third quarter of 2022, according to the “advance” estimate released by the Bureau of Economic Analysis. The third quarter results are a turnaround from the second quarter when real GDP had decreased […]

Filed Under: News Tagged With: GDP, Inflation

U.S. Auto Body Repair Prices Up Over 12% in September Compared to Last Year

October 14, 2022 By CollisionWeek Editor

The increase in auto body repair prices is down from the all-time high in July but continues above the rate of inflation. Collision repair facilities report securing labor rate increases from insurers in response to historic levels of inflation. The most recent government figures on inflation through September show the rate of growth of auto […]

Filed Under: Research Tagged With: Auto Body Repair Prices, consumer price index, Inflation, Labor Rates

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