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Published 1 year ago

Econ Quiz for Jan. 29, 2023

Summary by Ground News
Last week, we reported that households in the lowest income quartile tend to experience higher rates of inflation. Inflation in 2021 did not play by that recent historical trend. One reason is that higher income households spend more in discretionary categories such as vehicles, recreation and lodging. Since prices in these categories increased at higher rates in 2021, consumers spending heavily in those categories faced higher rates.

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