Another hefty expense is car insurance, up 17.8% from a year ago.
Car repairs and car insurance were the second- and third-largest annual price increases, respectively, tracked by the CPI.
Paul Baxter, a mechanic who owns Bullet Proof Off-Road & Auto, a car repair shop in Mesa, Arizona, said he’s paying 30% more for car parts compared to before the pandemic.
To keep the lights on, he marks up car parts he sells to customers by 20% to 30%, he told CNN.
Paul Baxter, who opened his auto shop in 2016, has had to raise prices due to the rising cost of car parts.
Persons:
there’s, Hunter Scott, Scott, ” Scott, they’re, Pam Franks, “, haven’t, ” Franks, Roszell, Kristin Brocoff, hasn’t, CarMD, Paul Baxter, Baxter hasn’t, Paul Baxter Baxter, Baxter, who’s, ”, Ted Canty, Canty, he’s, we’re
Organizations:
New, New York CNN, Navy, Craigslist, Metro, CNN, Bureau of Labor Statistics, CPI, Farm, Toyota, state’s Department of Insurance, P Global, Auto, FedEx, Social Security, Volkswagen, Security
Locations:
New York, Arlington , Virginia, Washington , DC, Washington, DC, skyrocket, Louisiana, Pineville , Louisiana, United States, Mesa , Arizona, Wimauma , Florida