Families in North Carolina spending 22% more on household goods than in 2021
Average household spending in North Carolina is $1,017 more per month today to buy the same goods and services as it was in 2021.
Average household spending in North Carolina is $1,017 more per month today to buy the same goods and services as it was in 2021, a new federal report says.
This means that families have a 22% increase in cumulative inflation since January 2021, putting North Carolina 1.5% higher than the national average. Over that same period, inflation has cost each household nearly $26,000 more than they would have spent.
The analysis is in a July report from the U.S. Congress Joint Economic Committee, based on data from the Bureau of Labor Statistics.
At a rally in North Carolina on Wednesday night, former President Donald Trump addressed the inflation challenging the nation.
“A lot of people are very devastated by what’s happened with inflation,” Trump said. “From the day I take the oath of office, we will rapidly drive prices down and make America affordable again.”
When Trump left office in January 2021, inflation was 1.4%. It reached a 40-year high of 9.1% in June 2022 and is 2.9% today.
Food, shelter, energy, and transportation expenses are all up in North Carolina, even from the same time last year.
https://justthenews.com/nation/states/center-square/families-spending-22-more-household-goods-2021
https://t.co/BzxByqZkH8 pic.twitter.com/iCIzMHuw24
— Nick Timiraos (@NickTimiraos) August 15, 2024
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Shrinkflation is hitting homes: Expect ‘the death of the hallway’ and other Tetris-like designs to cut construction costs, per FORTUNE.
— unusual_whales (@unusual_whales) August 19, 2024