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You are here: Home / Archives for Inflation

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

Consumer Sentiment Slightly Up Over June

July 29, 2022 By CollisionWeek Editor

Consumers adjust to inflation as labor market expectations worsen. Consumer sentiment was essentially unchanged from June, when it had reached an all-time low for the survey, according to the University of Michigan Surveys of Consumers. Most components of the index were little changed, though buying conditions for durables adjusted upwards, primarily due to perceptions of […]

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

NFIB Survey Finds Large Majority of Small Business Owners Report Inflation Pressures Worsening

July 20, 2022 By CollisionWeek Editor

The NFIB Research Center released a new survey yesterday assessing the impact inflation is having on small businesses. Overall, over half (56%) of small employers reported that inflation is having a substantial impact on their business while about a third (35%) reported a moderate impact. Three quarters (75%) of owners reported that inflation pressure is […]

Filed Under: News Tagged With: Inflation, National Federation of Independent Business

Preliminary July Consumer Sentiment Remains Near All-Time Lows

July 15, 2022 By CollisionWeek Editor

Index slightly up from June. Consumers may bring forward durable goods purchases to avoid price increases. Consumer sentiment was relatively unchanged in early July, remaining near all-time lows according to the preliminary University of Michigan Surveys of Consumers report released this morning. The Index of Consumer Sentiment stood at 51.1 for July, up 2.2% from […]

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

Small Business Optimism Declined in June

July 13, 2022 By CollisionWeek Editor

Expectations of future conditions hit all-time low. Owners reporting inflation as biggest business problem highest since 1980. The National Federation of Independent Business (NFIB) Small Business Optimism Index dropped 3.6 points in June to 89.5, marking the sixth consecutive month below the 48-year average of 98. Small business owners expecting better business conditions over the […]

Filed Under: News Tagged With: Inflation, National Federation of Independent Business, Small Business Optimism Index

WTW Collaborates with Solera Audatex UK to Develop Inflation Predictions Tool

June 27, 2022 By CollisionWeek Editor

WTW (NASDAQ:WTW) announced the launch of new price inflation forecasting technology for auto insurers in the United Kingdom. The tool uses Audatex’s repair data, which covers 98% of all UK vehicles, augmented by machine learning and comprehensive historical data analysis by WTW. The technology has been developed to predict inflationary effects on vehicle repair costs […]

Filed Under: News Tagged With: Audatex UK, Inflation, Solera Holdings, United Kingdom, WTW

PartsTrader July 19 Webinar to Provide Industry Update, Examine Parts Inflation and Supply Chain Constraints

June 10, 2022 By CollisionWeek Editor

PartsTrader announced a virtual collision repair industry update event on July 19 at noon (EDT). This free, live, interactive event offers a way for industry professionals to get vital information about current trends affecting their business. “I’m looking forward to providing the latest information on our fast changing industry, and giving my thoughts on how […]

Filed Under: News Tagged With: Inflation, PartsTrader, Supply Chain, Webinars

Consumer Sentiment Index Declined Over 10% in May

June 2, 2022 By CollisionWeek Editor

Pessimism on inflation overshadows optimism on personal finances. After voicing more positive views in April, consumer sentiment fell 10.4% in May, reverting to levels comparable to two months ago, according to the University of Michigan Surveys of Consumers. The Consumer Sentiment Index fell to 58.4 in the May 2022 survey, down from 65.2 in April […]

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

PPG CEO Details Inflation’s Impact on Coatings Business in CNBC Interview

May 13, 2022 By CollisionWeek Editor

In an interview yesterday morning on CNBC embedded below, Michael McGarry, chairman and CEO of paint supplier PPG, detailed the dramatic impact of inflation on its business and how the company plans to counter it.   McGarry explained that the company experienced 25% cost inflation in the U.S. during the first quarter. Asked by CNBC […]

Filed Under: News Tagged With: Inflation, PPG Industries

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