As inflation drives up food and energy costs, how to save money on your electric and gas bill

CHICAGO (WLS) — Vitality prices and meals costs will be overwhelming proper now as inflation continues to drive them up.

Vitality costs have risen greater than 40% within the final yr, and meals prices are up greater than 10%, a number of the largest value will increase in 40 years based on the Shopper Value Index. It is particularly tough for folks on a hard and fast revenue.

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Loretta Line, who’s on a hard and fast revenue, has been dipping into her financial savings to afford it.

“If I hold taking out of it I am not going to have the ability to survive for much longer,’ she stated.

Line closes her blinds throughout the day to maintain cool in her West Ridge neighborhood rental, and would not run the air conditioner. She pays $30 a extra a month on electrical. Her rental affiliation dues cowl her fuel, nevertheless it is estimated that fuel payments will put the affiliation $27,000 over finances by the tip of the yr and lift dues. That plus the rising value of groceries has residents on edge.

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“Prior to now we loved having the ability to go to native farmers markets, go to locations the place we will get natural meals and I am not doing that anymore. I will locations the place I can get discounted greens,” Line stated.

Buying round for various objects may help save, together with shopping for retailer or generic manufacturers. You must also stick with an inventory and be a part of grocery retailer loyalty applications for added financial savings.

You may as well take steps to save lots of in your vitality payments.

“Vitality effectivity may help folks save this summer time,” stated Jim Chilsen with the Residents Utility Board. “Primary, stroll to your thermostat, hold it at 76 to 78 levels if you’re awake. While you’re asleep or away from house, bump it up a couple of levels, and weatherize your doorways and home windows.”

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There’s additionally assistance on the way in which.

“The excellent news is that there’s some aid because of the local weather and Equitable Jobs Act,” Chilsen stated. “There are two refunds coming to customers. One is coming to customers proper now this summer time.”

Each refunds will seem in your ComEd invoice. The one coming now could be a mean of $18 credit score by way of Might. The opposite is a mean of $3 credit score starting in 2023. However that will not be sufficient for some.

“We have seen a 20% enhance in customers calling CUB and most of them are saying what the heck is fallacious with my utility invoice,” Chilsen stated.

The Citizen’s Utility Board additionally stated it is best to hold your lights and televisions off as a lot as doable to economize, and take into account skipping on the range and oven and as an alternative use the microwave or an outside grill to cook dinner meals.

You will discover extra suggestions and information at CUBHelpCenter.com and CitizensUtilityBoard.org.