Kane County Reporter

Rep. Dan Ugaste (R-St. Charles) recently said that inflation has led to tough times for everyone in the country.

"Everyone is having to adjust, going fewer places, doing less. With restaurant owners and other businesses they also talk about experiencing cutbacks. These are tough times for everyone," Ugaste said.

The U.S. Bureau of Labor Statistics issued its latest Consumer Price Index (CPI) summary on July 13, which found that costs have risen 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 have increased by 10.4%.

When Ugaste was asked about how inflation could impact the economy, he replied, "It’s already hurting working people, the people that are out there every day trying to make ends meet are suffering. All of this is largely due to the influx of money that went into economy that wasn't necessary.”

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. 

Ugaste sees taxes going up.

“It’s possible because projected revenues are going down and operational costs are going up. All of these measures were passed without Republican input.”