North Cook News

Residents in Illinois and across the nation are facing historic levels of inflation and state Rep. Deanne Mazzochi (R-Elmhurst) weighed in on what it could mean for families across the state.

The U.S. Bureau of Labor Statistics issued its latest Consumer Price Index (CPI) summary on July 13, which found that costs rose 9.1% in the last year, marking a 40-year high. In the last month, the cost of energy increased by 7.5%, gas prices rose 11.2%, and the cost of food increased by 1%. In the last year, the cost of gas has risen by 59.9%, while food prices increased by 10.4%.

"Inflation is absolutely making life harder for people. I hear it over and over from people, and it will only get harder as we get closer to the start of school, and parents have to go out and try to get things for their children," Mazzochi said to the North Cook News about the effects of inflation on the state's economy. 

As the state tries to figure out how to bring in more tax revenue, she i hoped that residents wouldn't have to face higher taxes on top high levels of inflation.

"Pritzker is talking about how were getting more tax revenue in the door, but that’s only because of all the rising costs.  We already have people paying more from the higher sales tax," She said.

She witnessed the harmful effects of inflation on her constituents and said, "I think there are some people better able to weather the storm than others, but absolutely others are being hit very hard. I don’t see it getting better anytime soon without stopping the spending, which Democrats don’t seem inclined to do." 

Business owners, facing increased costs in supplies, shipping and other expenditures, could be forced to cut jobs, according to The Center Square. Todd Maisch, CEO of the Illinois Chamber of Commerce, said, "the question for policy makers in Illinois" is whether they are going to raise taxes because of inflation, "or are we going to weather the storm and show that government can be on sound fiscal footing."

Illinoisans are paying an average of $4,386 more in 2022 than they paid in 2021 for the same goods and services due to price increases, according to Illinois Policy. The average Illinois resident will pay an extra $1,122 for gas this year, while also spending an additional $504 on groceries and $280 for utilities. These extra costs mean many people will dip into their savings and skip some recreational activities.