Average Nevada Household Spending $32,554 More Due to Inflation Since January 2021

According to Consumer Price Index data released by the Bureau of Labor Statistics, the Joint Economic Committee (JEC) estimates that Nevada households are paying an extra $1,175 on basic household goods and services. Cumulatively, the average Nevada household is spending $32,554 more due to inflation since January 2021.

The cumulative inflation rate in Nevada is 21.8 percent, which is 1.5 percent higher than the national average.

The JEC Inflation Tracker breaks down the average household expenses into four major spending categories: food, shelter, energy and transportation.

Since 2021, households are spending an extra $150 on food per month, an extra $273 on shelter per month, an extra $132 on energy per month, and an extra $314 on transportation per month since President Joe Biden and Vice President Kamala Harris assumed office.

Last Friday afternoon, the Harris-Walz campaign released their economic plan with claims not to “go back to the failed trickle-down polices that hurt American families.”

The campaign’s proposals include a wide range of government subsidies including a “first-ever” tax credit for builders of homes sold to first-time buyers and up to $25,000 in down-payment assistance for “eligible” first time buyers, a plan that her campaign claims could reach four million households over four years.

Harris has also called for capping the monthly price of diabetes-drug insulin at $35 for everyone, “finding ways” to cancel medical debt, and giving families a $6,000 tax credit the year they have a newborn.

She is also voicing support for a federal law banning “price gouging” on groceries and has signaled her support for rent control.

Harris’ economic plan has faced significant criticism from various sources, including CNN, which has compared it to policies implemented in countries like Venezuela, Argentina, and the Soviet Union. Critics argue that her plan could lead to shortages, increased prices, and the mainstreaming of communism in America.

Her GOP challenger, former President Donald Trump blasted her economic plan, warning that prices “will get 100 times WORSE” and  Harris “will implement SOVIET Style Price Controls” if she is elected.

If you think things are expensive now, they will get 100 times WORSE if Kamala gets four years as President. Under her plan, Kamala will implement SOVIET Style Price Controls. She will abolish private health care, and make California's ridiculous tax policies the law of the land,… pic.twitter.com/DPNV146vfO

— Donald J. Trump (@realDonaldTrump) August 17, 2024

A recent survey of the seven top battleground states from the Cook Political Report last week found Harris ahead in Pennsylvania, Michigan, Wisconsin, North Carolina and Arizona and tied with Trump in Georgia, while Trump leads only in Nevada. In a survey conducted by the same pollsters in May, Trump led President Biden in six of the battleground states.

President Trump will return to Las Vegas this Friday, his first appearance in the Silver State since his assassination attempt. His campaign announced that the event will focus on Trump’s “No Tax On Tips” policy he revealed during a Las Vegas rally in June. One month later, after referring to the policy as a “Campaign Hail Mary”, the powerful Culinary Union endorsed the policy once Senator Jacky Rosen co-sponsored the legislation. This month, Harris adopted the Republican-led proposal and tied its passage to an increase in the federal minimum wage.