Americans are going to suffer this winter season due to rising heat and electric bills as the costs for other necessities continue to rise.
On Monday, CBS news revealed in its news report that “the average households will pay about 17% more this winter to heat their property, reaching a 10-year high of about $1,200 per home, according to a forecast from the nonprofit National Energy Assistance Directors Association.”
As a result, the American electricity bills are expected to increase by 7.5 percent from last year.
In a statement released by Mark Wolfe, the executive director of the National Energy Assistance Directors Association, he revealed that “there is a lot of pain. This is the second year of high home heating prices. Across the board, low- and middle-income families are suffering.”
Lipow Oil Associates President Andy Lipow also warned last August about natural gas prices climbing throughout the colder months.
“When we look at utilities going forward this winter, especially with the soaring price of natural gas, which has doubled since this time last year, the consumer is going to be paying far more for natural gas this upcoming winter heating season. That’s also going to filter into higher electricity costs as 39 percent of our electricity is generated from natural gas,” Breitbart news reported.
Despite the growing concerns, US President Joe Biden still tried to downplay rising inflation during the “60 minutes” interview with reporter Scott Pelley after the 8.3 annual rate last month was brought up.
“Well, first of all, let’s put this in perspective. Inflation rate month to month was just — just an inch, hardly at all,” President Biden declared.
Moreover, the reporter also reiterated that it was the highest inflation in 40 years.
On Monday, President Biden continued to attempt to convince Americans not to worry about the record-high inflation.
This was revealed by Breitbart News writer John Carney in his business digest titled, “Joe Biden cannot even convince democrats inflation will fall.”
“This is also bad news for the Federal Reserve. The poll numbers indicate that nearly three-quarters of Americans do not believe that the central bank’s tightening campaign will bring inflation down over the next six months. This raises the danger of an inflationary mindset taking hold. When consumers expect rising prices, they pull forward purchases to avoid higher prices in the future. The surge in demand can push prices up even faster. Similarly, workers expecting inflation will demand more in compensation, and that extra income adds to demand and therefore inflation,” Carney added.
Carney’s article came out after Joe Biden declared “I’m telling the American people that we’re going to get control of inflation.”
