If you feel your real monthly budget has decreased by more than 8% in the last year, you're not crazy, writes TianatheFirst. 'Inflation is regressive by design, but this bout is even more so than usual.'
Inflation hit yet another 40-year high in February, with the Bureau of Labor Statistics determining a 7.9% increase in the consumer price index over the past year. However, buried in that figure is the unsavory fact that although inflation is, and in recent months has been, usually somewhat regressive anyway, the burden of recent price spikes has continued to fall on the working class disproportionately.
Think of it like this: Let's say an upper-middle-class household of two white-collar workers has $8,000 in disposable income each month. Their mortgage payments, grocery bill, and transportation-related costs may only use less than half of that, leaving thousands each month that can be allocated to savings, investments, or other leisure spending.
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