The latest inflation report shows that low income households are continuing to be hardest hit.
The report, released by the Federal government, showed that inflation moderated driven by a decrease in the price of gas. The cost of food, however, went up by 13.6% from the previous year. Food, of course, is not something you can do without and so even the people who can afford it least are affected but can do nothing about it.
As any economist will tell you, inflation has the effect of being a regressive tax, hitting the lowest income households or those on fixed incomes the hardest. Judging by policies of the current Administration, they just do not seem to care.