A Consumer Price Index report from the U.S. Bureau of Labor Statistics reported that inflation has increased 3.1% in the Atlanta-Sandy Springs-Roswell area over the last year, with a 0.3% increase over the month of April.
The index for all items less food and energy had an increase of 2.8% in the last year, while the energy index rose 6.9% and the food index rose 2.6% in the same time period.
Nationwide, the Consumer Price Index increased 0.3% in April and 3.4% over the last year, according to the Bureau of Labor Statistics. The cost of motor vehicle insurance rose by 22.6% in the last twelve months, putting it among indexes "with notable increases over the last year" alongside medical care (+2.6%) and personal care (+3.7%).
Georgia residents are paying more than the national average for car insurance, according to a report from Bankrate. In Georgia, the average cost of car insurance is $2,610 each year, or 3.58% of the average income.
Gov. Brian Kemp said excessive lawsuits are one factor contributing to the state's rising car insurance rates, WABE reported. “The laws on our books make it too easy to bring frivolous lawsuits against Georgia business owners which drive up the price of insurance and stop new, good-paying jobs from ever coming to communities that need them the most,” Kemp said to the Georgia Chamber of Commerce in August. He called for lawmakers to prioritize tort reform to bring down the volume of these lawsuits and protect businesses and consumers.