Build Back Better? Nevada Inflation Rate Hits 16 Percent – IOTW Report

Build Back Better? Nevada Inflation Rate Hits 16 Percent

Nevada Globe: The U.S. Congress Joint Economic Committee revealed that inflation in Nevada has reached 16 percent, nearly twice the national CPI average and hitting Nevada households the hardest. The data shows that rising prices are costing Nevada households an additional $867 a month or $10,402 a year since January 2021.

In May 2022, The Globe reported that the annualized cost of inflation per Nevada household was $8,231. In just five short months, the “invisible tax” of inflation has risen $2,171. To put that into a clearer financial perspective, the average rental cost of an 893 ft2 apartment in Las Vegas is $1,506. Affordable housing becomes less affordable when the invisible tax consumes more than an entire month’s rent.

Nevadans are also paying record high gas prices at the pump. According to AAA, the average price of a gallon of gas has reached $5.32. One year ago, the average was $3.88.

Speaking of gas, NV Energy announced a rate hike. The company said the reason for the rate hike is because of the rising cost of natural gas which is used to fuel its power plants. The rate hike, will be, on average, 8.12 percent or cost an additional $120/year for a single family home. The rate hike took effect on October 1. more

9 Comments on Build Back Better? Nevada Inflation Rate Hits 16 Percent

  1. Anonymous OCTOBER 18, 2022 AT 12:21 PM
    “It’s too bad the entire American workforce won’t go on strike agains’t the most corrupt government in history.”

    …in 1986, after Ferdinand Marcos had blatently stolen his presidential election, Corazon Aquino outlined a tame program of dissent that included banging on pots and pans in a “noise barrage” to protest the fraud that had been foisted on them.
    https://www.upi.com/Archives/1985/12/06/Philippines-Noise-barrage-protests-Marcos-rule/2418502693200/

    This led to greater and greater protests, the Army having certain officers defect then refusing to fire on civilians, and ultimately to Marcos being Baby Doc’ed away so the country he wrecked could try to recover.

    We can’t even be bothered to bang the pots together.

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  2. Them’s fightin words!

    Besides, I left almost 20 years ago… And Nevada has always been off my list because of the Silver State’s odd habit of putting the elderly in care homes involuntarily, and selling off their possessions to pay for it, effectively stealing their kids inheritance.

    KR

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  3. If they’re copping to 16%, just imagine what it really is. Using the same basket of goods & services that were used to check inflation in the 1980s to check current inflation puts it in the mid 20%s.

    I’ve seen 30-40%+ price increases the past year in things I consider basic grocery items.

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