From Today’s Daily Herald.
Get ready to spend more at the grocery store.
The yearlong suspension of the state’s 1% tax on groceries ends July 1.
The tax respite was intended to help reduce the cost to Illinois consumers as inflation drove grocery prices to all-time highs.
However, the tax hiatus ends at a time when groceries are even more expensive than before, according to a U.S. Department of Agriculture report from last month that showed food purchased at supermarkets for consumption at home cost 7.1% more in April of this year than a year ago, just before the grocery tax was suspended.
The Illinois Department of Revenue estimates consumers saved about $185 million between July 2022 and March 2023. The full effect of the tax break won’t be known until September, when June’s tax receipts are finalized, agency officials said.
Some critics argue the tax should remain suspended.
See more in today’s Daily Herald.