I mean, it's beating the *CPI*, and probably will be throughout next 2-3 quarters at least. In the US.
I just heard on the pod "fierce competition for the poor and cushy socialism for the rich" - arguably the ratio of cushiness:struggle is proportionally worse to the worldwide 'relationship distance' from the Washington.
There are some exceptions, for example Swiss onad Chinese CPI is low.
The poor being hit more by a crisis is a story as old (at least) as human race. For example while there was ~20% inflation where I live, you can still buy most electronic shit for pre-covid prices and sometimes cheaper. The real estate is at discount or flat relative to its top. Many assets were on discount.
While food, energy, some services, rents... went up. So the poorer you are the bigger part of your spending falls into the 20% more expensive category and the less money you can use to buy assets in discount.
The lesson is: stop being poor... or have fun staying poor? 😎
