Inflation really hurts people the most when they don't have that kind of flexibility in their budgets. And so there're a lot fewer options to cut back on your spending when you're poorer. So what is the best way, at a moment when our lives are just getting that much more expensive, that you can cut costs? Well, if you're not recommending here going after the most identifiable sources of inflation?, he asks.
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.