Michigan residents are currently paying more for electricity than citizens in 24 other states. | Photo by Matthew Henry on Unsplash
Michigan residents are currently paying more for electricity than citizens in 24 other states. | Photo by Matthew Henry on Unsplash
As inflation remains a financial burden in many American households, electricity is among the many necessities that have increased in price with a recent U.S. Energy Information Administration (EIA) report noting that electricity prices rose at their fastest rate since 2008.
The national index for electricity rose 11.1% for the past 12 months with the electricity index rising to 2.2%, according to the Bureau of Labor Statistics’ Consumer Price Index.
Michigan residents are paying roughly $115.80 on average per month, placing the state 26th out of 50 states, according to the Save on Energy website.
The EIA utilized information from its electric power monthly report to note that consumers paid an additional 4.3% in 2021 from 2020, amounting to 13.72 cents per kilowatt hour (kWh).
The average price for electricity in Michigan was 16.92 cents per kWh in January 2021 as opposed to 17.13 cents per kWh this January, a 1.2% year-over-year increase, according to the EIA.
The U.S. Bureau of Labor Statistics released its latest Consumer Price Index for the month of March and reported an 8.5% increase for all items, the highest such increase since 1981.
The Senate Opportunity Fund (SOF) survey found six in 10 Americans blame President Joe Biden for high inflation. The poll questioned 800 likely general election voters throughout the country from March 15-17.
Biden has tried to focus rising costs in America on the Russian invasion of Ukraine by utilizing the saying #PutinPriceHike on Twitter and has said that rising prices have "nothing to do" with his initiatives.
“Make no mistake, inflation is largely the fault of Putin," Biden said, according to FOX News.
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