As of December 2021, prices across all goods and services had risen more in one year than in the past 40 years combined, leaving low-income Americans to bear the brunt of unprecedented inflation.
The 7% markup on goods and services is predicted to be a problem for 40% of Americans, according to Rochester First. Those with the lowest incomes, the working poor, and some in the middle class will be most heavily impacted. These groups have less savings, are often forced to spend more than they earn, and are spending a greater portion of their income on essentials compared to higher earners.
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