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You are here: Home / Archives for Inflation

Consumer Sentiment Up for Second Month in a Row

January 30, 2023 By CollisionWeek Editor Leave a Comment

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 Leave a Comment

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

Uncertainty Continues to Cloud Consumers’ Outlook on the Economy

September 30, 2022 By CollisionWeek Editor

Consumer Sentiment in September remains near August’s historic low. Consumer sentiment was essentially unchanged in September, just 0.4 index points above August, according to the University of Michigan Surveys of Consumers. Consumer sentiment is viewed as a leading indicator of economic activity and sharp declines have often preceded or happened during the early point of […]

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

Slowdown in Inflation Supports Rise in Consumer Sentiment in August

August 29, 2022 By CollisionWeek Editor

Consumers’ views on their personal financial situation improved during the month. Consumer sentiment rose by 13% in August, lifting off of the all-time low reading for the survey reached in June but remaining 17% below a year ago, according to the University of Michigan Surveys of Consumers.  Consumer sentiment is viewed as a leading indicator of […]

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

U.S. Auto Body Repair Prices Up Nearly 15% in July Compared to Last Year

August 12, 2022 By CollisionWeek Editor

The increase in auto body repair prices continues above the rate of inflation. Marks historic largest year-on-year increase reported since data was tracked starting in 1978. The most recent government figures on inflation through July show the rate of growth of auto body repair prices is above the rate of general inflation for the 13th […]

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

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