NPR, May 11, 2022, Inflation may be easing — but low-income people are still paying the steepest prices
The rising costs of housing, food and other necessities are big drivers of inflation, and they fall especially hard on lower-income Americans, posing a growing challenge for President Biden and the nation’s top economic policymakers.
When inflation is high, everyone pays the price, but research suggests that lower-income families suffer the most.
“Typically food and gasoline and housing are a bigger share of total spending for lower-income households than for higher-income households,” says Dan Sichel, an economist at Wellesley College.
