SOUTHERN CALIFORNIA RECORD

Inflation rates for motor vehicle insurance increased by 1.2% in July, according to the latest Consumer Price Index (CPI) summary from the U.S. Bureau of Labor Statistics, outpacing the national average inflation rate of 0.2% in July.

In a report released on May 3, which examined "nuclear verdicts" nationwide, Marathon Strategies, a public relations firm, discovered that California experienced $912,019,135 in nuclear verdicts in 2023. Nuclear verdicts are defined as those exceeding $10 million.

California's cost of living surpasses the national average by 42%, with significant expenses in areas such as car insurance, housing, and utilities. Recent analyses point to the proliferation of tort lawsuits in the state as a contributing factor to this high cost of living.