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If the rising price of homeowners insurance were factored into the U.S. Consumer Price Index — a key metric of inflation — it could have added 80 basis points, or about 0.8%, to last year's CPI increase of 3.4%, according to an analysis from Bloomberg Intelligence. By not including home insurance, the CPI "ignores climate costs," writes BI senior analyst Andrew Stevenson in an April 9, 2024 note.
April 10, 2024, 1:41 AM