An inflation-proof pocket of Illinois is about to burst. The fees to get a law license and to certify a document in Illinois are increasing in 2016 – for the first time in 1919. Respectively, they'll go up from $5 to $50 and from $1 to $5. At Bradley University in Peoria, Joshua Lewer is the McCord Professor of Executive Management Development and says some inflation is necessary to make the economy go.
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“One of the aspects of a growing economy – and it's a negative one – is, like any living thing, it's a warm thing,” he says. “A warm inflation is actually a sign that the economy is moving forward.” Lewer says the Consumer Price Index tells us that 2015 prices should be fourteen times what the 1919 prices were; thus, the new prices remain a bargain.