Prism, April 7, 2022, Understanding inflation, all of its causes, and who it affects the most
COVID-19 and inflation exacerbated existing inequalities, with inflation disproportionately affecting low-income workers and communities of color.
Dedrick Asante-Muhammad, the chief of membership, policy, and equity at the National Community Reinvestment Coalition, said the rising costs are hitting people who have lower incomes the hardest.
“If you’re having greater increase in your groceries and greater increase in your gas, and the upcoming greater increase in your rent, that can financially break households that are living paycheck to paycheck with very little flexibility,” Asante-Muhammad said.
“We have pulled away a lot of the investments that were occurring into working-class families, ” Asante-Muhammad said. “It seems to me that a lot of the economic discussion is leading us into ways that we’re going to continue the ongoing racial wealth divide [and the] deep racial economic inequality which results in ongoing economic insecurity for most households of color.”
