Power Bills Predicted to Jump up to 54 Percent this Winter
The first major snowstorm hit the Rocky Mountains north into Montana, leaving from a foot up to 28 inches of snow, closing highways and delaying travelers. The cold weather is bad news for people’s heating bill. The Associated Press reports that the government expects heating bills to be up to 54 percent higher this year than last. The 54 percent increases is expected to hit people who heat with propane, followed by heating oil (a 43 percent increase) and natural gas (30 percent). Those who rely on electricity will see the smallest increase, below 10 percent.
CPI Shows 5.4 Percent Inflation
Let’s keep in mind that these numbers are artificially low compared to the way CPI was calculated 40 years ago. So inflation is probably closer to 7 to 10 percent higher. Either way, it’s going to get worse. For a myriad of problems. This article gives the annual increase in a rage of items so you can see why inflation feels higher than 5.4 percent.