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Inflation Has Cost the Average Family Over $6K

According to EJ Antoni, an economist and research fellow for regional economics in the Center for Data Analysis, the average American family is losing real income due to inflation over the last two years.

“American are being crushed by higher prices. The average family has lost $6,100 in real income (how much their wages can actually buy) … and have added another $1,300 in higher borrowing costs,” stated EJ Antoni.

“These effects have effectively made the average family $7,400 poorer… (and) With winter setting in, Americans are facing 19% higher heating bills on average,” Antoni said.

The food index rose 0.6%
The energy index rose 1.8%
The fuel oil index rose 19.8%
The used car and truck index decreased 2.4%
The apparel index decreased 0.7%

This September, the consumer price index rose 0.4%, showing that inflation remained at a near four-decade high of 8.2%, according to the U.S. Bureau of Labor Statistics reported last month.

If you have any questions about this information or title insurance, please contact Ralph Aponte: 732.914.1400.

Counsellors Title Agency,, founded in 1996, is one of New Jersey’s most respected title agencies, serving all 21 New Jersey counties with title insurance, clearing title, escrow, tidelands searches, and closing and settlement services for commercial or industrial properties, waterfront properties and marinas, condominiums, townhouses or residential single-family homes. Counsellors Title also features its own Attorney Settlement Assistance Program™ [ASAP], which is an individual resource customized to fit the needs specifically of real estate attorneys, including, Documentation, Preparation, Disbursement of Funds, Attendance at Closing, HUD Preparation or Post-Closing Matters.

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