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There’s bad news and good news when it comes to auto insurance rates this year. Prostock-studio / Shutterstock.com
Auto insurance premiums have risen faster than nearly every other common consumer cost, and painful price hikes are likely to continue in 2024. The consumer price index (CPI) shows that prices for car insurance are up 20.6% in the past year, far outpacing the overall inflation rate and exceeding the inflation rate for pretty much any other significant spending category.
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