Electricity prices are on the rise. Is it inflation or an underlying issue?
CBSN
The sun is burning a hole in Americans' wallets. Back-to-back months of heat records and sweltering days have contributed to rising electricity costs, and experts say that without action, it's a problem that will likely only get worse.
According to CBS News' price tracker, the cost of electricity has increased from $0.14 per kilowatt hour in 2019 to $0.18 per kilowatt hour in 2024 — a change of more than 28.5%. The average American is now paying nearly $300 a month just in utilities.
For many people, it just isn't affordable.
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