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Inflation across the country had jumped to a 40-year high earlier
this year, leading to high prices for groceries, fuel and other
goods and services. The U.S. Bureau of Labor Statistics Tuesday
released the monthly Consumer Price Index report that showed an
overall 7.1% increase in the past 12 months.
WalletHub's report of how metropolitan areas are dealing with
inflation uses specific metrics like CPI to determine where
inflation is rising – or slowing – the most. Jill Gonzalez of
WalletHub explained where Illinois cities are on the list.
"When we are looking at nearby places, St. Louis ranks 15th, and the
closer you are to number one is a bad thing," Gonzalez said.
"Chicago-Naperville-Elgin area ranks 20th."
Gonzalez also said Chicago had shown improvement compared to the
previous month.
"Some cities are feeling inflation more than others and others are
feeling it less. Chicago is one of the few places where it is not
rising that much right now," Gonzalez said. "We are seeing a drop
between the latest numbers and November."
The Chicago-Naperville-Elgin area was one of only five other cities
of 23 reviewed by WalletHub to see a decrease in their inflation
numbers.
"The only other cities that we looked at that saw a decrease were
Houston, Los Angeles, San Diego, and Minneapolis," Gonzalez told The
Center Square.
In July, Gov. J.B. Pritzker and the state legislature suspended the
state grocery sales tax until July 2023, delayed the July gas tax
hike until January, and offered property tax rebates for middle- and
low-income families as well as temporary income tax credits to help
families deal with inflation.
Republicans criticized the move as an election-year gimmick, saying
it doesn't do enough to offset 40-year-high inflation or the state's
near nation-high taxes.
Andrew Hensel has years of experience as a reporter
and pre-game host for the Joliet Slammers, and as a producer for the
Windy City Bulls. A graduate of Iowa Wesleyan University and
Illinois Media School, Andrew lives in the south suburbs of Chicago.
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