Did one estimate put Nevada's inflation rate at around 16% since Biden took office?
By Todd Butterworth
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YES
In August, Joint Economic Committee Republicans placed Nevada's inflation at 15.6% since President Biden assumed office.
For comparison, the Bureau of Labor Statistics reported that inflation fluctuated in a "West region," which includes Nevada, between 7-9% throughout 2022 compared to 2021.
BLS calculates inflation as a percentage change from 12 months prior while JEC uses January 2021 as its baseline. Furthermore, BLS uses regional data while JEC supplements with state-level data.
The nation’s inflation rate peaked in June 2022 at 9.1%, the highest annual increase since 1981.
This fact brief is responsive to conversations such as this one.
Sources
US Congress Joint Economic Committee State Inflation Tracker: August 2022
US Bureau of Labor Statistics Consumer Price Index, West Region — November 2022
US Congress Joint Economic Committee State Inflation Tracker: Methodology
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