According to Bloomberg, low-income Americans are getting hit hardest by price increases as the economy starts to open up.
The basics are the prices that are exploding and that is what hurts lower- and middle-income Americans.
Meanwhile, the lockdowns have shrunk parts of the upper-income field leaving those left in the higher brackets to scoop up some luxury items at bargain prices.
The latest numbers show that the prices for goods and services bought by the lower-income class have climbed by 1.75% in February, 1.53% for middle-income earners and only 0.98% for the top ten percent.
-RW
Hey, if the low-income folks haven't found cash-generating real-estate investments and high-performing long-only funds in which to invest their excess cash, then that's their friggin' problem.
ReplyDeleteWhat are the increases on food clothing and rent?
ReplyDeleteThe essentials.