Bidinflation harms the poor, but Democrats don't understand why anyone is upset about the economy?

Surging inflation will cost most US households $3,500 this year, analysis show

Findings from the Penn Wharton Budget Model, a nonpartisan group at the University of Pennsylvania's Wharton School, show that most U.S. households will need to allocate at least 6% more of their budget in order to sustain last year's spending level on goods and services. That figure is even higher for low-income Americans, who need to increase their spending by at least 7%. The recent inflation burst is disproportionately hurting lower-income households, largely because they collectively spend more on energy – which has seen some of the wildest price swings over the past year – while wealthy Americans spend more on services, which has seen the smallest inflation increases.

That could mean, based on 2020 spending data, that the bottom 20% of income-earners saw their consumption expenditure increase by 6.8% to $2,120 per household, while the top 5% saw a 6.1% increase, or roughly $7,636 per household. Middle-income earners also saw a large increase in expenses, with an increased consumption expenditure of $4,351, or an increase of 6.8%. "Since higher-income groups had a bigger increase in expenditures in all categories, they also saw a bigger increase in total expenditure," the analysis said. "However, because of variation in the composition of consumption bundles, we find that higher-income households had smaller percentage increases in their total expenditure." The Penn Wharton analysis comes on the heels of a new government report that revealed consumer prices soared 6.8% in November from the previous year, the fastest pace since June 1982, when inflation hit 7.1%.

Now some of us are more able to absorb $300 a month than others. But if you are living paycheck to paycheck the $300 is going to mean choices that are not necessarily easy to make. Do you skimp on your food? Do you pass over a bill? Either way, 6% inflation is killing the poor and middle class despite what the Biden Administration wants you to believe.