Hitachi ABB Power Grids decided to invest $6.2 million in their Bland County, Virginia, facility, which develops and manufactures technology used to regulate electricity flow. | Pixabay/Pexels
Hitachi ABB Power Grids decided to invest $6.2 million in their Bland County, Virginia, facility, which develops and manufactures technology used to regulate electricity flow. | Pixabay/Pexels
As inflation continues to grow across the country, electricity costs are becoming more of a burden for North Carolina families, with the price of residential power increasing at its fastest rate since 2008.
Numbers reported by the Bureau of Labor Statistics Consumer Price Index for the month of April show that the national index for electricity rose by 11.1% over the course of 12 months ending March. From February to March alone, the electricity index climbed 2.2%, with many Americans blaming President Biden.
"Biden now owns the second-largest monthly increase in electricity prices in U.S. history," the Heisenberg Report said in a tweet back in February.
In North Carolina, data from SaveOnEnergy.com reports that the average residential electricity bill is $113.26 per month, as the state ranks 23rd in cost out of all 50 states and is one of the top 10 states with the largest increase in electricity bills since last year. On a more specific level, the U.S. Energy and Information Administration (EIA) reported in January 2021 that the average price of electricity in North Carolina was 10.60 cents per kWh, whereas, in January 2022, the average price of electricity in the state was 10.88 cents per kWh, representing a 2.6% year-over-year increase.
Despite his repetitive denial, many Americans are placing the blame for rising inflation on President Biden, with one survey by the Senate Opportunity Fund finding that 6 in 10 Americans said they blame Biden for the ongoing inflation problem in the country. Out of 800 general electors, 60% of voters said that Biden has done a poor job, 35% of voters said he has done a good job, and 5% of voters had no opinion on the matter.
Electricity prices are not the only struggle for many Americans. Consumer Price Index data for the 12 months ending March 2022 reflect an 8.5% all-items annual increase, the largest in over 40 years, since 1981, according to the Bureau of Labor Statistics.
According to FOX News, President Biden has been placing blame for the rise in American prices on the Russian war with Ukraine since early March, coining the phrase #PutinPriceHike on Twitter and maintaining the stance that rising prices have "nothing to do" with his administration’s policies.
"Make no mistake, inflation is largely the fault of Putin," Biden said, according to FOX News.
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