Vice President Kamala Harris asserted on Wednesday at Bowie State University that the Biden administration has “reduced heating and energy rates so that individuals now have more cash in their pocket.”
That assertion was untrue because, according to the most recent Consumer Price Index (CPI) released in January, the price of natural gas climbed by 6.7 percent between December 2022 and January 2023, while the price of electricity increased by 0.5 percent.
Harris’s allegations were untrue annually as well. The CPI stated in January that “the index for fuel oil jumped 27.7% during the past 12 months, while the index for electricity gained 11.9%, and the index for natural gas climbed 26.7% during that same period.”
Additionally, the average cost of power per kilowatt-hour in American cities has increased since the Biden administration took office, according to data from the St. Louis FED.
It cost $0.137 in February 2021. The price per unit rose sharply to $0.168 in January 2023: