Cost of Living Rises Yet Again: You're Now Paying $1,037 More Each Month

It comes as no surprise to anyone who pays for everyday necessities like food, rent, and gasoline that prices continue to rise. The newly released Consumer Price Index shows inflation rose 3.5% over this time last year, which is higher than the predicted 3.0%.

Today the typical American household spends approximately $270 more each month on basic items than they did one year ago, and a shocking $1,037 more per month than they did three years ago, according to Moody's Analytics. That was in 2021, before inflation shot up to 9.1% in 2022.

E.J. Antoni, research fellow in The Heritage Foundation's Grover M. Hermann Center for the Federal Budget, told CBN News the Biden administration is to blame for high inflation.

Read the full story from CBN's Lorie Johnson:

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[kylohurtado]

$75 billion to Ukraine = Record High Inflation.

[traciebecker]

Those who have been paying attention knew to get out of debt, prepare, and pray.

[JT-qwcn]

I'm tired of going to work like everything's fine when it's clearly not.

[wellsHannahh]

The only American who won't acknowledge this Administration's failed economic policies is Joe Biden. "Shrink-flation' is the least of our worries compared to rising rents and stagnant wages, but it is an undeniable indicator of how bad our inflation has gotten. I have $100k that i like to invest in a non-retirement account, any advice on that?

[xcqematic]

10+M illegal immigrants are housed, fed, educated, and getting medical treatment for free. Generously contributed by the taxpayers. Why would prices go down?

[empowered]

Everything is going up except for my paycheck!

[awomansstory.]

Food, rent, fuels, heating and cooling costs for your home, bankruptcies. It's putting more stressors on all of us except for the very rich.

[mikedials]

Why doesn't my pay go up? Companies should be forced to adjust wages with "inflation" js

[rainyfriday]

Last week 40 dollars filled my gas. Today it only went 3/4. And summer means more power consumption for cooling. This summer may very well be the end of the line for many. We all go a little crazy in the heat.

[Childtamer]

The thing is I don’t think people actually want to use their credit cards, but have no other choice given the circumstances. It’s be broke and homeless or try and get by with another credit card payment. I’m not saying it’s right, but some people did not plan their monthly expenditures to keep rising with some of these prices.

[Jay-ppuv]

The borrower is slave to the lender. Don't put yourself in that position.

[msedkdj]

Don't worry. Joe's got you covered.

[timrod]

The grocery store prices have risen significantly, leading me to conserve food and reduce my food intake. I've even started skipping meals to save money and ensure survival, a trend I've noticed among many others I know.

[Icecold]

Imagine if the media and government actually told you the truth.

[OrdinaryMan-tnhh]

Americans won't do anything about it and the Government will keep laughing at them and squeeze them more.

[WhitneyRoss-djrf]

The cost of living seems to be increasing every year, making it harder to keep up.

[SOP]

And my hourly wage is less than it was over 20yrs ago ... About the same hourly wage that my dad made in the 1980s.

[DaYugoslavian]

Keep on sending billions to Ukraine. The inflation crisis is only going to get worse.

[maverick-zjjz]

My rent just increased, 200.00 a month. My auto insurance just went up, 500.00.

[lawrenceterrell]

The FED has no intentions to lower anything, we still pay more for less a package of meat as small as a Lego block cost you $30+ dollars and now we have to once again compete with gas prices, I told my wife this reminds me so much of how it was during COVID minus we aren't being forced to stay at home, price remain high and living everyday seems unattainable with little stability.