Linemen make repairs to an electric pole. A recent report states that the price of electricity has gone up in line with other commodities. | NV Energy/Facebook
Linemen make repairs to an electric pole. A recent report states that the price of electricity has gone up in line with other commodities. | NV Energy/Facebook
American households continue to feel the financial hardship of inflation with the U.S. Energy Information Administration (EIA) reporting that the price of electricity has increased at its fastest rate since 2008.
The national index for electricity rose 11.1% for the past 12 months with the electricity index rising to 2.2%, according to the Bureau of Labor Statistic's Consumer Price Index (CPI).
Residents in Nevada are paying roughly $125.81 on average per month, putting the state at 32nd out of the 50 states, according to information from SaveOnEnergy.com.
The EIA utilized information from its electric power monthly report to note that consumers paid an additional 4.3% in 2021 from 2020, accounting to 13.72 cents per kilowatt hour (kWh).
The typical price for electricity in Nevada was 11.53 cents per kWh last January as opposed to 12.93 cents per kWh this January, a 1.2% year-over-year increase, according to the EIA.
The U.S. Bureau of Labor Statistics (BLS) released its latest CPI for the month of March and reported an 8.5% increase in inflation, the highest it's been since 1981.
A Senate Opportunity Fund (SOF) survey found six in 10 Americans believe President Biden is at fault for inflation. The poll questioned 800 likely general election voters throughout the country from March 15-17.
President Biden has tried to focus the rising costs in America on the Russian invasion of Ukraine by utilizing the hashtag #PutinPriceHike on Twitter. He has gone on record that the mounting prices have "nothing to do" with his initiatives stating, "make no mistake, inflation is largely the fault of Putin," according to FOX News.
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