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WalletHub: Chicago handles inflation better than St. Louis | Granite City News

A new report by WalletHub shows which cities in America are battling the highest inflation and Chicago comes out better than most.

Inflation across the country had jumped to a 40-year high earlier this year, leading to high prices for groceries, fuel and other services. The US Bureau of Labor Statistics Tuesday released the monthly Consumer Price Index report which 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 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. JB Pritzker 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 record inflation which has been at a 40-year high throughout the year.

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