Silver State Times

Inflation in the United States is at a 40-year high and continues to rise at an alarming rate, which has left Nevada residents suffering in their wallet.

The consumer price index for all urban consumers showed that 2021 had a 7% increase in the all items index from January to December, according to a release from U.S. Bureau of Labor Statistics. The release said that this is the largest increase in 40 years over a 12-month period. The last record high was in June 1982. 

The food index alone rose 6.3%, and the energy index increased by 29.3%. The 12-month increase for food at home was 6.5%, as all six major grocery store food group indexes increased over the year. The index for meats, poultry, fish and eggs took the greatest hit with a 12.5% increase throughout 2021.

“The all items less food and energy index rose 5.5%, the largest 12-month change since the period ending February 1991,” the release said.

Nevada and the surrounding mountain states have been hit especially hard, Fox Business reported. Compared to other areas, the region including Montana, Wyoming, Idaho, Utah, Colorado, Arizona, New Mexico and Nevada saw the largest price increase at 8.6%.

Gasoline prices have also soared due to global tensions pertaining to oil prices. A recent AAA gas report said that Western states have the highest retail gas prices in the nation. Nevada is one of seven states with the highest costs at the pump, with the average of regular gas at $3.82 per gallon. The average price for mid-grade is $4.04 per gallon; premium is $4.24 per gallon and diesel is $3.94 per gallon.

Of those surveyed, 52% believe the country is in a recession, with 40% thinking that it is not, according to a poll by McLaughlin & Associates. This compares to January 2021's results, when only 25% felt that it was a recession and 70% felt that it was not.