Vehicle repair and maintenance costs continue to drive higher prices, per the latest Consumer Price Index (CPI) report from the U.S. Bureau of Labor Statistics. Even as some consumer categories like groceries have cooled, vehicle repair costs have surged by nearly 12% in the last year – more than tripling the overall inflation rate and fueling nearly a third of core inflation.
Some highlights from this week’s reporting:
“In particular, motor vehicle insurance and auto maintenance and repair were responsible for about a third of core CPI inflation…” – Jonathen Levin, Columnist at Bloomberg
“One of the strongest categories in March was transportation services, which rose 1.5 percent over the month. It was driven primarily by motor vehicle repair and insurance costs.” – The New York Times
“The costs of owning a vehicle were a key reason why prices jumped last month…Average auto repair costs increased 1.7% from February to March and are up a sharp 8.2% from a year earlier.” – Associated Press
Coupled with persistent labor and auto parts shortages, automakers’ unfair repair restrictions – like design patent abuse and data restrictions – remain a key driver of sky-high repair costs that are squeezing consumers and independent repair shops alike.
It’s on Congress to bring car owners and independent repairers relief by advancing the bipartisan REPAIR (H.R. 906) and SMART (H.R. 1707) Acts. With support from over 60 members of Congress and nearly 80% of vehicle-owning voters, these commonsense bills would ensure that consumers have access to affordable repair options while preserving a vibrant repair market.
Tell your representative to advance these bills today!
