Nevada Households Face Steep Costs

Nevada has experienced a significant surge in inflation under President Joe Biden’s administration, with a cumulative inflation rate of 22.2 percent since January 2021, nearly three times the average annual inflation rate the state saw in the three decades before his presidency.

The Joint Economic Committee (JEC) State Inflation Tracker reveals that the average Nevada household has incurred an additional $30,181 in expenses since January 2021. The substantial increase has impacted various essential sectors, including food, shelter, energy, and transportation.

The average household in Nevada has spent an extra $3,665 on food due to inflation since January 2021. For shelter, households have faced an additional cumulative expenditure of $6,103. Energy costs have also risen sharply, with an average increase of $5,320 per household. Transportation expenses have surged, with households spending an additional $10,275 cumulatively.

According to the May 2024 Consumer Price Index data released by the Bureau of Labor Statistics and analyzed by the JEC State Inflation Tracker, the average Nevada household is now paying $1,201 more per month for the same goods and services compared to the period before Biden took office in January 2021. This marked increase underscores the significant financial burden inflation has placed on Nevada residents during this administration.