Inflation now is at the highest rate in 13 years and is a real concern for all Americans. Housing, food, furniture and many other goods are more expensive. The cost of another, more invisible commodity – home heating – is also projected to rise, even as much as 50%, in the coming months. The burdens of reduced buying power across so many facets of daily life is especially hard on low-income households. This winter, the poor will likely face an unconscionable choice: heat or eat.
The cost of home heating is expected to increase substantially across the board. Natural gas will increase 30% to $746, heating oil will increase 43% to $1,734 and electricity will increase 6% to $1,268. Paying so much more for warmth will cripple many already economically challenged households. Read more about JPB Fellow Diana Hernandez’s research.