The Daily Money: Why are electric bills so high?

Happy Tuesday, Daily Money readers. It's Amanda Pérez Pintado with today’s headlines. 

Even as overall inflation cools, your electric bill isn't expected to get cheaper. 

Consumers should expect electricity prices to continue to climb this year as more natural gas goes overseas and companies' operational costs increase, economists say.

“It’s fair to say, in aggregate, we’ll see upward pressure for 2023 on the cost consumers pay for electricity,” said Dallas Federal Reserve economist Jesse Thompson. 

More than 75% of Americans already worry about their ability to afford utility or electric bills, according to Texas electric power company Payless Power. 

Where is child care most expensive? 

Child care costs range from 8% to 19% of a median family’s income per child, or from $5,357 to $17,171 per year when adjusted for inflation, according to new Labor Department data. 

The department's new National Database of Childcare Prices breaks down child care costs in 2,360 counties. 

Find out how expensive child care is in your county.

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About The Daily Money

Each weekday, The Daily Money delivers the best consumer news from Paste BN. We break down financial news and provide the TLDR version: how decisions by the Federal Reserve, government and companies impact you.