People in the broad defind middle of life are more likely to own their own homes. Home ownership is a meaningful way to escape a significant part of inflation, it has been recently. If you've refinanced in the last couple of years, as millions and millions of americans have, you may be paying less for housing now than you were a couple of years ago. This highlights how these experiences can be very different for different people.
Fresh data from the U.S. government on Wednesday showed that inflation was still climbing at a rapid pace, prompting President Biden to say that controlling the rising prices was his “top domestic priority.”
But not everybody experiences inflation equally. Why is that?
Guest: Ben Casselman, an economics and business reporter for The New York Times.
Want more from The Daily? For one big idea on the news each week from our team, subscribe to our newsletter.
Background reading:
For more information on today’s episode, visit nytimes.com/thedaily. Transcripts of each episode will be made available by the next workday.