The U.S. Department of Agriculture is projecting that egg prices will decrease in the coming months. But experts said that all depends on whether there are any further bird flu outbreaks. Outbreaks of bird flu earlier this year are making eggs pricier. The wholesale price for eggs peaked at $3.30 per dozen in recent months,
CHAMPAIGN – Beginning this month, people who rely on the Supplemental Nutrition Assistance Program (SNAP) will see a sharp reduction in benefits. As the emergency allotments enacted by Congress at the start of pandemic expire, 16 million American households will now receive less monthly assistance. In Illinois, the change is expected to affect two
The consumer price index is widely used by Americans to determine inflation, but the Bureau of Labor Statistics only surveys American counties that include a metro or micropolitan area. In rural southwest Illinois, fourth generation grocery store owner Craig Norrenberns said his three shops across the region are “fighting the price battle.” “There’s no doubt
CHAMPAIGN — Americans have felt the pain of inflation in grocery stores this year. The USDA estimates that the cost of groceries was 10.6 percent higher in November 2022 than November 2021. Prices may finally be on their way down as the Federal Reserve tinkers with interest rates, but the cost of one product –
WASHINGTON — The Federal Reserve raised interest rates by half a percentage point Wednesday, as it continues its crackdown on slowing, but stubborn, inflation. The hike comes one day after the latest government reading showed inflation is running at its slowest annual rate in nearly a year. Still, consumer prices in November were up 7.1%
URBANA — Congresswoman Robin Kelly is up for re-election in Illinois’ newly redrawn 2nd congressional district, which stretches from the Danville area to Chicago’s South Side. Kelly will face Republican challenger Thomas Lynch, a member of the Iroquois County Board, in the November midterm election. Lynch spoke with Illinois Newsroom’s Harrison Malkin about his life
Student debt has soared in the 21st Century. It went from $520 billion in 2006 to now over $1.7 trillion. The Biden administration recently announced a student loan forgiveness program. Some borrowers could have as much as $20,000 forgiven. The White House estimates that around 43 million borrowers could be eligible for some debt forgiveness. Of those, close to half could
On July 1, Governor J.B. Pritzker froze a proposed gas tax hike, while suspending the grocery tax on certain items. These were two of many initiatives meant to quell rising inflation. Dean Baker, a senior economist at the Center for Economic and Policy Research, described inflation as a time when “most prices are rising,” as
Clogged supply chains and budget-busting food prices have food banks scrambling to stock pantry shelves. That crunch comes as food banks see increased demand from families struggling to afford meals. Food banks saw a huge increase in demand at the onset of the COVID-19 pandemic. And while that’s leveled off somewhat, demand remains higher than
Making a Thanksgiving feast will cost more this year as the pandemic’s effect on the economy drives up food prices. Even economists like Curtis Dubay at the U.S. Chamber of Commerce notice the difference at the grocery store. “We’re spending roughly $25 to $50 more per week on groceries for a family of five,” Dubary
URBANA — For the first time in 13 months, the Illinois economy is expanding, according to the University of Illinois Flash Index. The Flash Index reading for April is 101.5, surging above 100 for the first time since February 2020, when it was at 105.7. The COVID-19 pandemic sent the Flash Index below 100 starting