Last week, the US government released the latest inflation statistics for February.
From February of last year, to February of this year, the Consumer Price Index (CPI) rose 1.7% nationwide. Some regions were higher, some were lower. (Check out the table below for more detail.)
So what is inflation exactly? ....
You may be surprised to see the items that some shops collect on Total Losses.
Years ago, when we started NABR, many shops we spoke with preferred not to get total losses in their shop. They told us they didn't make much money on them. A lot has changed since then, as you'll see in the list below.
We've entered the New Year, and many body shops use this time to consider changes to their labor rates.
Coming from a very challenging 2020, where repair volume was significantly down, if it was not already clear just how important labor rates are to a shop's business, it probably is now.