BUSINESS

Utahns are reportedly paying more in inflation than other states

Mar 2, 2022, 12:55 PM | Updated: 3:23 pm
utah consumer sentiment...
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.”

Related:

Today’s Top Stories

Business

Black Rifle Coffee...
Lindsay Aerts

Black Rifle Coffee, Dallas Cowboys take heat for timing of business partnership

The timing of a business partnership between Utah-based Black Rifle Coffee and the Dallas Cowboys has generated a lot of emotions on social media.
1 day ago
Local environmental groups are taking a victory lap now that a medical waste incinerator in North S...
Lindsay Aerts

Stericycle can no longer burn medical waste in SLC, but the fight to stop toxic pollutants may not be over

Local environmental groups are taking a victory lap now that a medical waste incinerator in North Salt Lake belonging to Stericycle, has been shut down.
1 day ago
air conditioner...
Carlos Artiles

What if your air conditioner breaks down during the summer months?

If your air conditioner breaks down during the summer, you could be on a wait list of a few weeks before it could be fixed or replaced.
1 day ago
draper shooting police...
Mark Jones

Party ban becomes permanent for Airbnb

Airbnb announced this week that it is placing permanent ban on disruptive parties. In April, two people died in a shooting at an Airbnb in Draper.
7 days ago
In this undated photo released by Toyota Motor Corp., its bZ4X vehicle is shown during an online pr...
YURI KAGEYAMA AP Business Writer

Toyota recalls electric car for faulty wheel that may detach

The "bz" in the recalled model's name, as well as others in the works, stands for a "beyond zero" series, including sport-utility vehicles of all sizes, pickup trucks and sportscars, according to Toyota.
13 days ago
A model wears a creation as part of the Giorgio Armani men's Spring Summer 2023 collection presente...
COLLEEN BARRY

Gucci unveils ‘HaHaHa’ collaboration with Harry Styles

Gucci has teamed up with Harry Styles for a between-season collection that infuses tailoring with adolescent joy. The collection is titled “HaHaHa.”
17 days ago

Sponsored Articles

Tax Harassment...
Jordan Wilcox

The best strategies for dealing with IRS tax harassment | You have options!

Learn how to deal with IRS tax harassment. This guide will teach you how to stop IRS phone calls and letters, and how to handle an IRS audit.
spend a day at Bear Lake...
Bear Lake Convention and Visitors Bureau

You’ll love spending the day at Bear Lake | How to spend a day at Bear Lake

Bear Lake is a place that needs to be experienced. Spend a day at Bear Lake.
Curb Appeal...
Price's Guaranteed Doors

How to have the best of both worlds for your house | Home security and curb appeal

Protect your home and improve its curb appeal with the latest security solutions like beautiful garage doors and increased security systems.
Prescription opioids can be disposed of during National Prescription Take Back Day...
Know Your Script

Prescription opioid misuse | How to protect your family from the opioid epidemic

Studies have shown that prescription opioid misuse has increased since COVID-19. So what do you need to know about these opioids?
national heart month...
Intermountain Healthcare

National Heart Month: 5 Lifestyle Changes to Make Today to Keep You Heart Healthy

Heart disease is the leading cause of death for both men and women. One person dies every 36 seconds in the United States from cardiovascular disease
Joseph Smith Memorial Building...
Temple Square

The Joseph Smith Memorial Building is an icon of Salt Lake City | Why hosting an event at this beautiful location will make you a hero this year

Here's why hosting an event at the iconic Joseph Smith Memorial Building in downtown Salt Lake City will make you a hero this year.
Utahns are reportedly paying more in inflation than other states