Car Insurance Prices A Major Factor In Inflation Surge: Report

The average new car transaction price in August — $48,451 — was down 2.4 percent from the start of 2023, marking the largest decrease in the last decade. That’s a great reprieve from the soaring heights of early this year, but current prices are basically identical to what they were in August last year. So while new cars are still quite pricey, they weren’t a factor in last month’s 3.7 percent inflation numbers. Likewise, used car index prices declined 1.2 percent. But…