Across the board, prices are up. In less than 12 months, Democrats’ policies have driven up inflation on everyday purchases to a staggering 39-year high.
The steep rise in costs has been particularly brutal in the energy sector, where the consumer price index year-over-year increase stands at a jarring 33.3%. That means every time Americans turn the heat on, fill their gas tanks up, and use their stove it is costing consumers significantly more than just a year ago.
Earlier this month, the Pennsylvania Public Utility Commission (PUC) announced that energy costs in the state are predicted to go up by as much as 50 percent. The PUC’s press release asked consumers to “avoid the possibility of sticker shock” as they face “potentially large winter energy cost increases” over the next several months.
According to estimates provided by the U.S. Energy Information Administration, “energy bills could rise 15 percent for households heated by electricity, 50 percent for those depending on natural gas, and 59 percent for those that mostly use heating oil. Propane users would be in for the biggest blow — a 94 percent increase, or potentially hundreds of dollars over the six-month heating season.”
The Consumer Price Index going up to 6.8% and the Producer Price Index increasing to 9.6% last month are having a direct impact on American livelihoods. In recent Gallup polling, seven out of ten lower-income Americans said that they were experiencing hardship from U.S. inflation and in a Wall Street Journal poll, 56% of those sampled said rising inflation was causing them financial strain.
Democrats’ agenda of spending trillions more in new government spending and creating more taxes on America’s energy sector will only cause prices to go up even more. The immediate solution is to stop the White House’s massive ‘tax and spend’ agenda and work to leverage our own domestic energy production. That is why House Republicans will continue to work to stop the Democrats’ socialist spending plan, support policies designed to protect America’s energy sources, and help lower consumers’ energy costs.