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American households are paying more than ever for electricity after prices surged the most in almost two years. And power costs are expected to climb even higher in 2026, with transportation and commercial customers seeing similar trends amid rising fuel costs and increased demand. The data highlight the rising pressure consumers are facing from higher energy bills, as increased power consumption from AI centers and industrial users boost prices. While electricity typically fluctuates from month to month due to weather, fuel costs and other reasons, power prices have been steadily marching higher for the past five years. https://buff.ly/ofttO6w
It may be unsurprising that after two dramatic reports on sinking consumer sentiment. the Fed says overall consumer spending is declining as well. Employment also fell slightly and prices rose moderately, according to the US central bank’s Beige Book survey of regional business contacts released Wednesday. https://buff.ly/V2Fqtm7 And while “outlooks were largely unchanged overall,” there was more evidence the rich may be the only ones holding up the dam. Multiple districts, including New York, Atlanta and Minneapolis, reported that only spending among upper-income consumers was resilient while dropping for most everyone else. https://buff.ly/mqefK8c
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