Activity report: Health benefits for civil servants, grain prices, sports scholarship | Video

Local and county governments are renewing their call for increased financial assistance to counter rising health insurance and pension costs. The New Jersey Association of Counties and the New Jersey State League of Municipalities are once again urging Governor Phil Murphy to use federal COVID-19 relief funds to offset rising health care spending. As well as facing a 24% increase in premiums to participate in the national health benefits scheme, local governments are also facing double-digit increases in pension contribution rates. Officials have warned that these higher costs could lead to property tax increases, service cuts or layoffs. Meanwhile, Republican members of the state Senate budget committee are demanding a hearing on why health premiums are rising so much.

It could get even more expensive to put food on the table and again that’s because of the fallout from the Russian war in Ukraine. Wheat and maize prices soared on the world market on Monday after Russia pulled out of a deal that would allow Ukraine to export grain. Ukraine is one of the world’s leading grain producers. Meanwhile, diesel fuel prices have risen as supplies are tight. Rising fuel and food prices are reminders of how difficult it is to control inflation.

An Eatontown native started a new business. Called Mojo, it’s like a stock market where people invest in athletes. Vinnie Bharara launched Mojo, a sports betting app, in New Jersey a few weeks ago. For example, after Jets tight end Tyler Conklin had a good field day on Sunday, his stock was trading 10% higher earlier Monday.

Comments are closed.