Sales tax collections in Allen Parish reported in September from the month of August indicated the color red was still the key color when comparing amounts to month-month and year-to-year collections.
For months, the data has reflected decreases in collections as purchases associated to Hurricanes Laura (August 27, 2020) and Delta (October 9, 2020) and the winter storm in February of 2021 slowly came to an end as the parish completed repairs. And despite the negative numbers, some government bodies did see a slight increase.
The school board’s two collection funds saw a small increase of 1.68 percent ($555,309.15 for an increase of $9,178.52) and 1.88 percent ($278,172.17 for an increase of $5,132.46) in month-to-month comparisons. The sheriff’s collections also increased by 1.88 percent ($278,172.11 for an increase of $5,132.40), as well as funds associated with the Allen Parish Police Jury ($194,720.96 for an increase of $3,592.44).
In the year-to-date comparisons, Reeves was the only fund to see an increase of 11.06 percent ($4,258.63). Last year, Reeves collected $38,491 in year-to-date collections compared to $42,749.63 this year. This increase could be linked to the opening of Family Dollar/Dollar Tree in April of 2022.
After the hurricanes and winter storm came the pandemic and COVID, which added to local economic woes, as well as state, national and world inflation. Making the dollar stretch is important, especially in family homes where increased food costs and rising gasoline prices, are forcing families to make changes and find ways to save money. Local governments are having to do the same, stretching those dollars.
According to tradingeconomics.com/united-states/inflation-cpi (U.S. Bureau of Labor Statistics), the annual inflation rate in the U.S. slowed for the third month running to 8.2 percent in September of 2022, the lowest in seven months, compared to 8.3 percent in August but above market forecasts of 8.1 percent. Economists have been waiting to see the inflation rate slow down. Energy and gas prices appear to be driving these percentages.
“The energy index increased 19.8 percent, below 23.8 percent in August, due to gasoline (18.2 percent vs 25.6 percent), fuel oil (58.1 percent vs 68.8 percent) and electricity (15.5 percent vs 15.8 percent which was the highest since 1981). A small slowdown was also seen in the cost of food (11.2 percent vs 11.4 percent, which was the highest since 1979) and used cars and trucks (7.2 percent vs 7.8 percent). On the other hand, prices for shelter increased faster (6.6 percent vs 6.2 percent). Meanwhile, the core rate which excludes volatile food and energy, rose to 6.6 percent, the highest since August of 1982, and above market expectations of 6.5 percent in a sign inflationary pressures remain elevated.
Remember to shop locally.
