A recent report warns that US home insurance premiums may reach record highs this year. Concurrently, a new analysis suggests that the rising cost of homeowners insurance could have significantly impacted US inflation last year. If included in the Consumer Price Index (CPI), a key inflation metric, the increase in homeowners insurance prices could have added approximately 80 basis points, or ~0.8%, to the CPI's last year increase of 3.4%. This insight, derived from a Bloomberg Intelligence analysis, underscores the potential underestimation of inflationary pressures when certain costs are excluded from the CPI.
'If the rising price of homeowners insurance were factored into CPI it could have added 80 basis points to last year's increase of 3.4%.' https://t.co/fQr27KYEGb https://t.co/IQQi2gQX9w
Factoring in the rising cost of homeowners insurance could have made US inflation even higher last year, according to a new analysis https://t.co/tVBtmcjzrH
If the rising price of homeowners insurance were factored into the US Consumer Price Index—a key metric of inflation—it could have added 80 basis points, or ~0.8%, to last year’s CPI increase of 3.4%, according to a new Bloomberg Intelligence analysis. https://t.co/c3fb2ixe5h
Factoring in the rising cost of homeowners insurance could have made US inflation even higher last year, according to a new analysis https://t.co/9CONkuDIz4
US Home Insurance Premiums May Hit a Record This Year, Report Warns https://t.co/M9llryr4Co