Everything your family bought last year now costs about $5,200 more
CBSN
Americans are paying more to put food on the table, fill up their cars and heat their homes — a lot more. The surging cost of such necessities will cost the typical household an extra $5,200 this year, economists say in a stark illustration of the ongoing toll of inflation.
Inflationary pressures are not expected to abate this year, leaving the average family with an additional $433 in monthly costs for the same goods and services, Bloomberg economists Andrew Husby and Anna Wong estimate. Costlier food and energy, including gasoline and home heating, account for about $2,200 of that total, they said.
The findings come on the heels of an analysis earlier this month by Moody's Analytics that found inflation to be taking an additional $296 bite from the typical household budget each month. Inflation around the U.S. reached a new 40-year high in February, with consumer prices jumping 7.9% from a year ago — the fastest annual rate since the Reagan administration.
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