• Latest
  • Trending
Inflation Will Cost American Households an Additional $5,200 in 2022

Inflation Will Cost American Households an Additional $5,200 in 2022

03/30
Raleigh School Stabbing

Father of Raleigh High School Stabbing Suspect Claims Self-Defense in Facebook Post

11/30
Video: In Final Interview, Kissinger Called Open Borders A ‘Grave Mistake’

Video: In Final Interview, Kissinger Called Open Borders A ‘Grave Mistake’

11/30
Free Speech Prisoner Owen Shroyer Needs Help Getting His Letters And Writings Back

Free Speech Prisoner Owen Shroyer Needs Help Getting His Letters And Writings Back

11/29
Video: Elon Musk Leaves NYT Speechless With Message to Zionist Blackmailers

Video: Elon Musk Leaves NYT Speechless With Message to Zionist Blackmailers

11/29
trump op-ed newsweek youth

Trump’s Newsweek Op-ed Pitches to America’s Youth

11/29
Mike Johnson Ukraine Funding

Video: Speaker Mike Johnson Backs More Aid For Ukraine in Pro-War Statement to Media

11/29
Migrant Whistleblower NGOs Stealing Money from US

Migrant Whistleblower: NGOs ‘Stealing A Tremendous Amount of Money’ From US Taxpayers in Transport Scam

11/29
Bishop Strickland

AUDIO: Fed-Up Catholic Blasts ‘Radical Marxist’ Takeover of Church in Radio Ad Supporting Bishop Strickland

11/29
Israel Accused of Spying on The Trump White House And The U.S. Army Intelligence Analyst Training Base At Fort Huachuca

Israel Accused of Spying on The Trump White House And The U.S. Army Intelligence Analyst Training Base At Fort Huachuca

11/28
Nikki Haley Endorsed by AFP

Koch Brothers’ AFP Goes All In for Nikki Haley

11/28
The Biden Regime Wants To Allow Illegal Immigrants To Live At National Parks

The Biden Regime Wants To Allow Illegal Immigrants To Live At National Parks

11/28
Javier Milei Judaism Israel

Argentine President-elect Javier Milei is Converting to Judaism

11/28
Thursday, November 30, 2023
Subscribe
SUPPORT
National File
  • Home
  • Culture
    • Christianity
    • Video Games
    • Marxism
    • Snowflakes
    • Free Speech
  • News
    • Breaking News
    • International News
    • Fake News
    • Exclusive
  • Politics
    • Gun Rights
    • The Swamp
    • Deep State
    • Supreme Court
    • 2020
    • 2022
    • 2024
  • Big Tech
    • Technology
    • Alt-Tech
  • Sports
  • Education
  • Rona’
SUBSCRIBE
  • Home
  • Culture
    • Christianity
    • Video Games
    • Marxism
    • Snowflakes
    • Free Speech
  • News
    • Breaking News
    • International News
    • Fake News
    • Exclusive
  • Politics
    • Gun Rights
    • The Swamp
    • Deep State
    • Supreme Court
    • 2020
    • 2022
    • 2024
  • Big Tech
    • Technology
    • Alt-Tech
  • Sports
  • Education
  • Rona’
No Result
View All Result
National File
SUBSCRIBE
Home Economy

Inflation Will Cost American Households an Additional $5,200 in 2022

Skyrocketing inflation is costing households $433 a month, Bloomberg Economics says

by Cullen McCue
March 30, 2022
in Economy, News
Inflation Will Cost American Households an Additional $5,200 in 2022
Share on FacebookShare on Twitter

Last Updated on March 30, 2022

According to Bloomberg Economics, skyrocketing inflation will cost American households an additional $5,200 in 2022, which breaks down to an added $433 a month. U.S. inflation reached a 40-year high this past January, accelerating to a 7.5% annual rate.

“Inflation will mean the average U.S. household has to spend an extra $5,200 this year ($433 per month) compared to last year for the same consumption basket,” wrote Bloomberg economists Andrew Husby and Anna Wong. The Bloomberg team predicted that “excess savings built up over the pandemic and increases in wages” will help to “cushion” the impact of such a dramatic increase. “But accelerated depletion of savings will increase the urgency for those staying on the sidelines to join the labor force, and the resulting increase in labor supply will likely dampen wage growth,” the team continued.

RelatedPosts

Father of Raleigh High School Stabbing Suspect Claims Self-Defense in Facebook Post

Video: In Final Interview, Kissinger Called Open Borders A ‘Grave Mistake’

Free Speech Prisoner Owen Shroyer Needs Help Getting His Letters And Writings Back

Inflation gauges, such as the Consumer Price Index — which measures what consumers pay for goods and services — have already recorded prices soaring at highest rate since 1982. This January’s rate of 7.5% topped December’s 7% annual rate, with both figures well above the 1.8% annual rate for inflation in 2019. Prices rose sharply for several everyday household items, including food, cars, housing and electricity. Housing rentals experienced a particularly sharp uptick, contributing to the increase.

Food prices are also skyrocketing globally and will continue to do so as a result of the ongoing conflict in Ukraine. The Food and Agriculture Organization of the United Nations (FAO) found that food prices in January reached record highs. This was according to the Food Price Index, which has increased by 20.7% since February 2020, according to the report, which was submitted before the conflict in Ukraine expanded.

Food and energy costs, which includes gasoline and home heating, account for $2,200 of 2022’s inflation, the Bloomberg Economics team said. This is set to hit low-income Americans the hardest. Such households have the least savings to cushion against rising prices, and wage growth is set to slow as the workforce continues to grow from pandemic lows. Even if a worker experienced a 10% growth in wages, food and energy inflation could completely offset the raise, the economists said.

RELATED: ‘It’s Gonna Be Real’: Biden Warns of Food Shortages at NATO Summit

Tags: Biden EconomyConsumer Price IndexEconomyFood PricesInflation

Cullen McCue

Philadelphia-based reporter who also covers MMA. Founder of Reality Circuit. Twitter and Gab: @CullenMcCue

Related Posts

Raleigh School Stabbing
Culture

Father of Raleigh High School Stabbing Suspect Claims Self-Defense in Facebook Post

November 30, 2023
Video: In Final Interview, Kissinger Called Open Borders A ‘Grave Mistake’
Deep State

Video: In Final Interview, Kissinger Called Open Borders A ‘Grave Mistake’

November 30, 2023
Free Speech Prisoner Owen Shroyer Needs Help Getting His Letters And Writings Back
Free Speech

Free Speech Prisoner Owen Shroyer Needs Help Getting His Letters And Writings Back

November 29, 2023
Load More
Facebook Twitter Reddit Telegram RSS

Category

  • 2020
  • 2022
  • 2024
  • Alt-Tech
  • Big Tech
  • BLM
  • Borders
  • Breaking News
  • cartoons
  • China
  • Christianity
  • Civil Unrest
  • Climate Hysteria
  • commentary
  • Coronavirus
  • Crime
  • Culture
  • Deep State
  • Economic War
  • Economy
  • Education
  • Election Integrity
  • Elections
  • Exclusive
  • Fake News
  • Fake News Media
  • Feminism
  • Free Speech
  • Gun Rights
  • Hate Hoax
  • Human Trafficking
  • Immigration
  • Impeachment
  • International News
  • Israel
  • January 6th
  • LGBTQ
  • Life
  • lifestyle
  • Marxism
  • Movies
  • National Security
  • Nationalism vs. Globalism
  • News
  • op-ed
  • Opinion
  • Opioid Crisis
  • Politics
  • Radical Islam
  • Related Stories
  • Sex Crimes
  • Snowflakes
  • Soros
  • Sports
  • States
  • Supreme Court
  • Technology
  • The Hill
  • The Swamp
  • Ukraine
  • Video
  • Video Games
  • Violent Crime
  • Vote fraud
  • Voter Fraud
  • Voter Fraud Investigation
  • White House
  • Wholesome News

Recent News

  • Father of Raleigh High School Stabbing Suspect Claims Self-Defense in Facebook Post
  • Video: In Final Interview, Kissinger Called Open Borders A ‘Grave Mistake’
  • Free Speech Prisoner Owen Shroyer Needs Help Getting His Letters And Writings Back

© 2022 NationalFile.com National File, LLC. Privacy. Corrections. About Us. All Rights Reserved.
Have any questions or suggestions? If you are having difficulty unsubscribing from our mail subscription please send an email here info@nationalfile.com Want to advertise with us? Please email: brett@nationalfile.com

No Result
View All Result
  • Home
  • Politics
  • News
  • Culture
  • Coronavirus
  • Sports
  • 2020
  • Breaking News
  • Civil Unrest
  • International News
  • The Swamp
  • Big Tech
  • Deep State
  • Voter Fraud
  • Marxism
  • Free Speech
  • DONATE
  • SUBSCRIBE

© 2022 NationalFile.com National File, LLC. Privacy. Corrections. About Us. All Rights Reserved.
Have any questions or suggestions? If you are having difficulty unsubscribing from our mail subscription please send an email here info@nationalfile.com Want to advertise with us? Please email: brett@nationalfile.com

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In