What's going on: Eggflation seems to be in the rearview, but your wallet is likely still hurting. The latest culprit in the affordability crisis: electricity costs. In at least 26 states, the price to keep the power on has risen faster than average inflation, according to The New York Times. One expert told the Associated Press that the utility bill is “the new ‘cost of eggs.’” You can blame AI data centers, upgrades to the energy grid (who can forget the 2021 disaster in Texas), and even electric vehicles for the rising demand for power — driving prices up and up. Voters are over it and used their frustration to help Democrats secure wins in New Jersey, Virginia, and Georgia this past November. Analysts say Republicans also plan to run on affordability in next year’s midterms.
What it means: Electricity costs aren’t going to ease up any time soon, and most Americans will likely face higher bills by the time next year’s elections roll around. That’s hitting households hard — 80 million people already struggle to pay their utility bills, and while some states protect folks from having their heat shut off in the winter, not all do. There is help: Federally funded assistance programs can offset some costs, and there are strategies for lowering your bills, like making sure your windows and doors are well sealed. Just add it to the growing list of cost-saving measures.
