No Time Like Now
For Productivity Improvement
From May to June, the cost of residential energy use in the New York metropolitan region shot up by 10.8 percent, the biggest increase in any month on record, according to the latest report on inflation from the federal Bureau of Labor Statistics . The price of electricity, which rose more than 15 percent in that period, was the main driver of the overall cost of household energy.
Power bills have been rising fast in the region as utilities have passed on the surging cost of fuel. Locally, the price of fuel oil was more than 75 percent higher than in June 2007. Con Edison said last week that residential customers would be charged about 22 percent more this summer than last.
Over the past year, the cost of household energy has risen more than 18 percent, according to the report. The escalation of energy prices easily eclipsed the fast rise in the cost of food. Prices of groceries and other food consumed at home rose 6.4 percent in the past year, which was the largest change in any 12-month period since June 2004.