Over half of U.S. counties face potentially higher utility expenses as the mercury rises, a new analysis finds.
As Americans recognize Earth Day, consumers may have noticed one effect of climate change : Higher temperatures around the U.S. are straining their budgets, and in some cases even forcing families to choose between cooling their homes and buying groceries. More intense heat is driving higher energy consumption, with over half of U.S. counties facing potentially higher utility and other related costs, the Bank of America Institute found in a recent analysis of its customers' spending patterns.
In places like Reno and Las Vegas, Nevada, consumers' utility bills were up by more than 40% in March compared to the same month in 2019, according to the report. Higher utility costs are just one expense that Americans have grappled with since inflation began surging during the pandemic. And while the disease has relented, many consumers remain under severe financial pressure.
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