Overall, Americans are paying 11% more for #electricity than they were in January, though that number varies widely: Costs have risen 37% in Missouri but have fallen in 3 states by as much as 13%, #NEADA found.
“With prices going up so rapidly, electricity is becoming #unaffordable in many parts of the country,” said Mark Wolfe, an #energy economist & exec dir of NEADA. “And it isn’t just lower-income households anymore; it’s spilling into the middle class.”
#Utility #prices have risen roughly 3X faster than overall #inflation this year, at a precarious time for the #economy. Businesses are announcing #MassLayoffs, & it’s taking #unemployed Americans much longer to find new #work. There are also signs that lower- & middle-class families are pulling back on spending.
#affordability #CostOfLiving #Trump #recession #trumpcession