All articles tagged with #inflation adjusted
U.S. Energy Secretary Chris Wright warned that gasoline may not dip below $3 per gallon until next year due to the Iran conflict and the Strait of Hormuz disruptions, with U.S. averages around $4.04/gal after a price spike since February; he said a resolution could lower prices, noting that sub-$3 levels would be notable in inflation-adjusted terms.
Trump claimed household utility bills rose “over 30%” under Biden. Federal data show national electricity prices rose 4.7% when inflation-adjusted during Biden’s term (25.8% nominal), with higher spikes in some Mid-Atlantic states due to data centers. Prices fluctuate for many reasons and aren’t tightly tied to the president. Officials are pursuing an emergency 15-year contract auction to add generation capacity; the Energy Department did not comment.
The IRS has released the new inflation-adjusted income tax brackets and standard deduction amounts that will be in effect for tax year 2024.