America, and the broader West for that matter, is experiencing a nasty cost of living crisis that’s expressing itself all across the economy. One can see it all over from food all the way to energy prices.
On the electricity front, we see this with soaring electric rates. According to a post by Mike Shedlock, electric rates increased by north of 70% at the outset of the summer in states such as Texas.
One thing that Shedlock noted is that natural gas prices have increased more than crude oil, which everyday consumers across Collective West will see in their increased electric bills…
For a family using 1,000 kWh of electricity a month, that translates into a monthly increase of roughly $80. Over a full year, that would sap nearly $1,000 extra from the family budget…
According to Shedlock’s data, the average household in America is paying 47.3% higher electricity prices than a year ago. Read more…
