Inflation

Peoria City Manager Patrick Urich says the biggest concern for municipalities from the president’s fluctuating trade policy is if the broad tariffs on goods result in increased inflation.

The federal Inflation Reduction Act of 2022 includes hundreds of billions of dollars in spending for climate protection and renewable energy investment.

The 40-year inflation high gripping the U.S. has affected the farming and food industries, pushing consumer costs for beef, pork, poultry, eggs and other food staples up by 10% or more.