BUSINESS + ECONOMY
Utahns are reportedly paying more in inflation than other states
Mar 2, 2022, 12:55 PM | Updated: 3:23 pm
Stock photo: Getty Images
SALT LAKE CITY – A new report shows that Utahns are paying more in inflation compared with other states.
The report comes from the U.S. Congressional Joint Economic Committee.
It found that the average U.S. household is paying $350 more per month for basic needs.
But in Utah – and other Mountain West states – that increase is actually up to $511 a month compared to last year.
Sen. Mike Lee, R-Utah, is the ranking member of the committee. He told KSL NewsRadio in a statement that this increase is a result of the president’s failed economic policies.
“My team found that families in Utah are paying a staggering $511 more per month due to Joe Biden’s failed economic policies. Life was more expensive for our state and for all Americans in 2021. Utahns deserve better,” Lee says.
President and CEO of the Utah Retail Merchants Association, Dave Davis, said there are many reasons for the increase.
“I wish that there was one thing that I could point to that is the culprit in this,“ Davis said. “But unfortunately we have a situation where there are a lot of things.”
The committee report found that the rising costs are largely driven by rising home and rent prices.
“I think that Utah is no longer a well-kept secret. We’re having people that are coming in from the West Coast and figuring out that Utah is a pretty great place to live,” Davis said. “And it’s driving up housing costs.”
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