The Consumer Price Index does include the category "tenants and household insurance," but that designation refers to renters insurance. Credit: Feng Yu/Adobe Stock
(Bloomberg) — 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.
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