Average household spending in Nevada up $32,554 since January 2021 due to inflation

According to Consumer Price Index data released by the Bureau of Labor Statistics, the Joint Economic Committee (JEC) estimates that Nevada households are paying $1,175 more for basic household goods and services. Cumulatively, the average Nevada household is spending $32,554 more due to inflation since January 2021.

The cumulative inflation rate in Nevada is 21.8 percent, 1.5 percent above the national average.

The JEC Inflation Tracker breaks down average household spending into four main spending categories: food, housing, energy and transportation.

Since President Joe Biden and Vice President Kamala Harris took office, households have spent $150 more per month on food, $273 more on housing, $132 more on energy and $314 more on transportation in 2021.

Last Friday afternoon, the Harris-Walz camp released its economic plan, claiming that it does not want “a return to the failed trickle-down policies that are hurting American families.”

The campaign's proposals include a wide range of government subsidies, including a “first-time” tax credit for developers selling homes to first-time buyers and up to a $25,000 down payment grant for “qualified” first-time buyers. Her campaign team claims the plan could reach four million households within four years.

Harris also called for capping the monthly price of the diabetes drug insulin at $35 for everyone, “finding ways” to cancel medical debt and giving families a $6,000 tax credit in the year a newborn is born.

She also supports a federal law banning price gouging in the grocery trade and has signaled her support for rent control.

Harris' economic plan has been heavily criticized by various sources, including CNN. The network compared it to policies in countries such as Venezuela, Argentina and the Soviet Union. Critics argue that her plan could lead to shortages, higher prices and the establishment of communism in America.

Her Republican challenger, former President Donald Trump, sharply criticized her economic plan, warning that prices would “get 100 times WORSE” and that Harris would “impose Soviet-style price controls” if elected.

If you think things are expensive now, they will be 100 times WORSE if Kamala becomes president for four years. Under her plan, Kamala will impose Soviet-style price controls. She will abolish private healthcare and make California's ridiculous tax policy the law of the land, … pic.twitter.com/DPNV146vfO

– Donald J. Trump (@realDonaldTrump) 17 August 2024

According to a recent Cook Political Report poll of the seven key swing states last week, Harris is ahead in Pennsylvania, Michigan, Wisconsin, North Carolina and Arizona and is tied with Trump in Georgia, while Trump leads only in Nevada. In a poll by the same pollsters in May, Trump was ahead of President Biden in six swing states.

President Trump will return to Las Vegas this Friday, his first appearance in the Silver State since his assassination. His campaign announced the event would focus on Trump's “no tax on tips” policy, which he announced during a Las Vegas rally in June. A month later, after calling the policy a “campaign Hail Mary,” the powerful Culinary Union endorsed the policy after Senator Jacky Rosen co-sponsored the bill.