Middle- and Low-Income Families Pay the Price for High Inflation: Economist

[claireokc]

With the nation’s inflation rate at its highest in 40 years, an economist from UCLA says middle- and low-income families bear the brunt of the burden. Inflation in the Los Angeles area, which also includes Long Beach and Anaheim, rose 8.5 percent in the year through March—on par with the national rate—the Bureau of Labor Statistics announced April 12. More so, inflation rose 10 percent in the Riverside area, which also includes San Bernardino and Ontario. Due to higher prices for fruit and vegetables, the food prices in the Los Angeles area increased 8.6 percent. Energy prices rose 36.7 percent, mostly due to the continuing rise in the price of gasoline. ...

Source: https://www.theepochtimes.com/middle-an ... 05437.html