Skyrocketing car-insurance premiums continue to fuel an inflation spike

Soaring insurance premiums, particularly for autos, are fueling rising consumer prices and complicating policymakers' attempts to beat back inflation. "It is punching well above its weight for that contribution," said Josh Hirt, a senior economist at Vanguard. Since December 2019, consumers have seen a roughly 51 percent jump in auto-insurance prices, Hirt said.