Electricity bills may continue to shock you even as overall inflation eases. Here’s why.
While price hikes for gas, furniture, electronics and clothes are slowing down after a long stretch of sharp gains, one costly item isn’t expected to get cheaper anytime soon: electricity.
Economists say consumers should expect their electric bills to continue rising at a fast pace as liquefied natural gas, a key fuel for generating electricity, remains in short supply in the US and companies’ operating costs rise. Average US electricity prices could rise at a 10% clip again this year and possibly next, predicts Mark Wolfe, director of the National Energy Assistance Directors Association, even though economists have forecast overall