About 90% of North America endured several days of extreme cold weather around Christmas time. I just received my gas bill and despite being very frugal, my gas supply cost increased nearly 15% MOM. In addition due to needing more gas for heating, my overall bill nearly doubled.
I know Fed typically looks at core CPI, but energy prices should still have some affect on commodity prices. In addition, high utility bills could rapidly deplete savings and future spending. In much of the Northeast, the typical gas bill is expected to be about $400/month. Not sure how the average household can sustain these prices.
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