{"id":1581140,"date":"2022-07-31T08:46:15","date_gmt":"2022-07-31T12:46:15","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1581140"},"modified":"2022-07-31T08:46:27","modified_gmt":"2022-07-31T12:46:27","slug":"bidenflation-hurting-rural-america-more-than-urban","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/bidenflation-hurting-rural-america-more-than-urban\/","title":{"rendered":"Bidenflation Hurting Rural America More Than Urban"},"content":{"rendered":"<aside class=\"mashsb-container mashsb-main mashsb-stretched\"><div class=\"mashsb-box\"><div class=\"mashsb-count mash-medium\" style=\"&quot;\"><div class=\"counts mashsbcount\">14<\/div><span class=\"mashsb-sharetext\">SHARES<\/span><\/div><div class=\"mashsb-buttons\"><a class=\"mashicon-facebook mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https%3A%2F%2Fwww.conservativenewsdaily.net%2Fbreaking-news%2Fbidenflation-hurting-rural-america-more-than-urban%2F\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Facebook<\/span><\/a><a class=\"mashicon-twitter mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/twitter.com\/intent\/tweet?text=&amp;url=https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1581140&amp;via=ConservNewsDly\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Twitter<\/span><\/a><a class=\"mashicon-subscribe mash-medium mash-nomargin mashsb-noshadow\" href=\"#\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Subscribe<\/span><\/a><div class=\"onoffswitch2 mash-medium mashsb-noshadow\" style=\"display:none\"><\/div><\/div>\n            <\/div>\n                <div style=\"clear:both\"><\/div><\/aside>\n            <!-- Share buttons by mashshare.net - Version: 4.0.47--><div><img decoding=\"async\" src=\"https:\/\/justthenews.com\/sites\/default\/files\/styles\/social_media_share\/public\/2020-05\/GettyImages-1211310290.jpg?h=2992ba0a&#038;itok=cQq4-aEM\" class=\"ff-og-image-inserted\" alt=\"image\" \/><\/div>\n<p>Inflation is affecting all, but more so in rural areas because of high fuel and energy prices.<\/p>\n<p>The price of gas and diesel has negatively affected the farming community, but also people who have to drive long distances to work, school or the grocery store. A recent analysis from Iowa State University <a href=\"https:\/\/smalltowns.soc.iastate.edu\/wp-content\/uploads\/sites\/163\/2022\/07\/STR1063.pdf\" target=\"_blank\" rel=\"noopener\">found<\/a> that it costs rural households $2,500 more a year to pay for gasoline than it did two years ago.<\/p>\n<p>The Federal Reserve\u2019s preferred inflation gauge accelerated more than expected in June, according to new data released Friday, a worrisome sign as central bankers try to combat higher prices with the steepest interest rate hikes in decades.<\/p>\n<p>William Polley, economics professor at Western Illinois University-Quad Cities, said this is a tricky situation for the Federal Reserve this time around.<\/p>\n<p>\u201cThat is a challenge this time that is a little bit different compared to the 1970s, and the fact that it is energy and food, does affect people in rural areas quite a bit, maybe disproportionately compared to urban areas,\u201d Polley said.<\/p>\n<p>According to Illinois Policy, because of inflation, Illinoisans are paying $522 more for the same grocery items they bought last year. Prices on food have risen by over 12% from June 2021 to June 2022, hitting many Illinois families hard.<\/p>\n<p>Economists worry that some in rural Illinois will begin taking out home equity lines of credit because the value of their homes has increased, a strategy that could backfire if home prices fall back down and the homeowner&#8217;s mortgage is underwater.<\/p>\n<p>This winter could be difficult for rural residents who heat their homes with petroleum or propane as those prices have escalated as well.<\/p>\n<p>There is a national debate taking place on whether the country is currently in a recession but Polley said doesn\u2019t think so despite two consecutive quarters of declining GDP, the common definition of a recession.<\/p>\n<p>\u201cI do think that a recession beginning by the end of the year is definitely in the realm of possibility,\u201d Polley said.<\/p>\n<p>He adds that job losses would follow, a lagging indicator that the country is in a recession.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Inflation is affecting all, but more so in rural areas because of high fuel and energy prices.The price of gas and diesel has negatively affected the farming community, but also<\/p>\n","protected":false},"author":1,"featured_media":2315279,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","fifu_image_url":"","fifu_image_alt":"","footnotes":""},"categories":[],"tags":[],"class_list":["post-1581140","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry"],"_links":{"self":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1581140","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=1581140"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1581140\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/2315279"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=1581140"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=1581140"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=1581140"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}