By CASEY HARPER | THE CENTER SQUARE
Newly released inflation data breaks down how much prices have increased in each state.
The U.S. Bureau of Economic Analysis released new data Wednesday for how the Personal Consumption Expenditure, a key marker of inflation, rose in each state last year. According to the BEA, PCE is a measure of the prices Americans pay for goods and services.
“Nationally, personal consumption expenditures (PCE), in current dollars, increased 9.2 percent in 2022 after increasing 12.9 percent in 2021. PCE increased in all 50 states and the District of Columbia, with the percent change ranging from 11.8 percent in Idaho to 6.4 percent in Louisiana…”
Prices have continued to rise in 2023, though at a significantly lower rate until August, when prices spiked again.
The price increases in 2022 varied by state. Alaska, according to the data, has seen inflation at 9.5% in 2022, slightly higher than the national average, while Washington state showed inflation at 9.1%.
Prices have soared in recent years, in large part because of a spike in federal debt spending, which facilitates an increase in the money supply.
“Expenditures on housing and utilities, food services and accommodations, and health care were the largest contributors to the increase nationally…” BEA said.
Notably, housing and utility costs rose 7.9% nationally, and was the biggest increase in 29 states and Washington, D.C.
“Food services and accommodations increased 17.6 percent nationally and was the largest contributor to increases in seven states,” BEA said. “Health care increased 5.6 percent nationally and was the largest contributor to increases in nine states.”
Joe Biden has “normalized ” a high inflation rate.
It will soon be normal to use a wheelbarrow to haul your money to the grocery store and use one of those nifty little recycle bags to carry some food home…..until you run out of money and have to go live in one of the homeless concentration camps while the Elites look over the tree tops at the beautiful sunrise/sunsets
> Inflation rose 9.2% in 2022, after rising 12.9% in 2021
Absolutely brutal numbers.
But hey my former fellow republicans, keep going along to get along. Accept your minority power, inability to communicate or find courage, and ineffectual leadership like McCarthy (et al). Modern conservatism is progressivism driving the speed limit. As far as the leftists, those heavy centralizers adrift in inhuman ideology, they are beneath the contempt that I have at least for the conservatives. A pox on both of you.
We as a people really do deserve what is already here and the worse that is coming.
Turn the blinker on for a left or right turn but never turn on the wipers to see the issues before them.
Nothing to see here. All is well. Ignore your lying wallet.
Today the inflation rate is 3.18%. Downing would have printed that but reality deflates her grievance.
Odd for you to claim you and reality have a relationship.
Doesn’t show in your posts.
Exactly, the numbers cited in the title are from the PCE, which to quote the article ” are a key marker of inflation” but not how inflation is calculated.
The actual calculation for inflation is as follows;
((B-A)/A)x100=inflation rate
where B is ending cost, A is starting cost.
Prove your claim of 3.18%, please.
Please stop the red herring argument about how inflation reduction is a good thing. Prices continue to increase regardless of the lower percentage number. We need DEFLATION NOW not a lower inflation %…that should be the new norm.
VC, the trouble with your 3.8% inflation rate comment is that people through their experience of shopping know differently.
For example, a box of 50 Swiss Miss Cocoa packets at Costco. $4.89 per box when Trump takes Office, $5.19 per box when Trump departs, after 3 years of president Sniffy its now $7.89 per box.
Turns out that printing Trillions of $ for Inflation Reduction Acts and other boondoggles has a way of devaluing those greenbacks in your wallet.
BTW, I’m not Trumpanzee, just a fella who shops for his family and despite my limited mathematical skills even I can note the above.
New Biden slogan: ‘Buildup to Broker’ It would be somewhat funny if it wan’t actually intentional
“It’s not Bidens fault..”
-Frank Rast(probably)
Give him time. He’s been on a roll lately.
See… Bidenomics is working.
Can anyone tell us which administration started handing out money to everyone like it was free, starting in 2020???? Geez and then inflation start in 2021. Can you follow the bouncing ball?
How about starting in 1932 when it really started.
Woodrow Wilson started it.
Interesting as grocery prices have doubled in the interior in 36 months . Stores are out of a lot of items and have had the shelves condensed! I think that 20% inflation is not factual
Biden has allowed at least ten million criminals to invade our country. It is not unusual to have 10,000 invaders, or more, per day. Just one of the costs Americans must pay is a massive increase in housing costs because the invaders demand living space. Supply and demand- less supply due to high demand- has driven up housing costs for Americans. But that is just one cost. As the invaders take to our roads without drivers licenses or insurance, our insurance costs have soared.
Our constitution requires the president to protect the United States against invasion, in Art 4, Sec. IV. Biden took an oath to uphold the Constitution, but refuses to do so. This is grounds for impeachment.
Some 70,000 Americans are dying per year due to this invasion where illegal drugs are moving across the border- under the control of the cartels- with the hoards of invaders.
Does Biden care? No. He and the left wing traitors want to replace American voters with those from communist- socialist countries. The left wing will be happy when the United States is a left wing third world hell hole with a billion people. That’s our future.
feds are building “free” housing, and paying for their healthcare and welfare.
I read an article on Fox the other day title very similarly to this article, blaming Biden for inflation. In the article Tyson foods (chicken and pork) admitted to reducing production of poultry thereby increasing price. Profits are through the roof for their parent company. Convenient to blame Biden but reality is a lot of this is driven by corporate America and our capitalist, make money at all costs system.
Uhhhh ok B. Tell your boss you’re willing to take a pay cut at work, since you’re anti-capitalism and all. Also millions and I mean millions of chickens,hens and turkeys were euthanized in the last 3 years because the FDA was worried about a bird flu outbreak. I’m not in love with con-Agra foods but they are simply surviving this current administration…as we all are. You don’t like doing any research do you?
> but reality is a lot of this is driven by corporate America and our capitalist, make money at all costs system.
It is the unholy union of state and corporate interests to the exclusion of all else. The Italians invented a word for this last century…
Government “data”? They’re hiding the truth behind bs – it’s much higher. Anyone been to the store lately? Packages are shrinking to hide the price increases.
The laughably lowballed and massaged CPI figures from the BL(B)S have been a blatant lie since at least the later 1980s. They would have us believe that the average cost of living has increased only 70% or so since the year 2000, when in fact anyone with half of brain knows that overall prices have well more than doubled in that time.
But, the sheep like Dogman and Frankly Rancid will lap it all up and believe it, simply because those lies come from those in power, from the sociopathic authority whom they grovel to and automatically obey and trust.
Comments are closed.