Below is a chart of how much prices have changed from May 2021 to May 2022 per category. As you can see energy costs
have increased by double digits, with electricity increasing by 16.2%. Data from Statista.
Food prices are increasing due to high fertilizer costs and supply chain issues along with the war in Ukraine. Which food ingredients have the highest increases? According to the Bureau of Labor statistics
, eggs were up 32.2%, butter/margarine was up 20.2 percent, chicken up 17.4% and citrus fruits up 17.4% year over year.
Residential electricity bills have been climbing for months
amid mounting natural gas prices and low fuel supply. They’re likely to go up even more as summer heat increases demand due to more people blasting on their air conditioners and other indoor devices. Barclays PLC
calculates that monthly power bills will be almost 50% higher than 2021. Unfortunately, Consumers will need to start decreasing their spending and plan to better budget their expenses until the economy turns around. We have written a helpful article on budgeting methods that are easy and fun. Check it out here. Save on your electricity bills during a heatwave.
Electricity bills have increased drastically, but there are programs to help you save and earn to lessen the blow. Meltek is a free service that pays people to reduce electricity consumption during high demand in the summer heat. Simply unplug devices, raise the temperature of your AC and get rewarded! Utility companies, such as Con Edison, would rather pay you to use less energy than fire up polluting and expensive peaker plants
When you reduce your energy consumption, you earn. Sign up
for our free program and start earning with us. We’re here to help you save money and save the planet!
Learn more on how it works here
to stay updated on our offerings. Subscribe
to our blog for more information on how to earn money while saving energy. Share this piece on social media to help us spread the word.