American households in 2024 are spending an extra $11,434 annually to maintain a similar standard of living to the one they enjoyed just three years ago.
That's according to a new study by Republican members of the US Senate Joint Economic Committee who examined consumer price data to arrive at an analysis of the impact of inflation from state to state.
In some parts of the country the cost of living increase stood at a comparatively modest $8,500 per year, while in states like California and Colorado it approached $15,000.
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