4 ms·
> because inflation is higher for things they purchase. That is easily disproved. It is quite easy to find periods where lower income people face lower inflat
by jcampbell1 14y ago
> because inflation is higher for things they purchase.
That is easily disproved. It is quite easy to find periods where lower income people face lower inflation, but still estimate higher inflation. (basically any period with food & gas price deflation, which represents a larger component of a lower income basket)
The reason lower income people ascribe a higher number to perceived inflation is because when you live paycheck to paycheck price changes are simply more concerning.
Some of the highest inflation categories are higher eduction, and healthcare which are under represented in lower income baskets.