This is why inflation hits Black families particularly hard
Black Americans have grappled with more volatile inflation when compared to white households over the past several years, according to new research published Monday by the Federal Reserve Bank of Richmond.
However, Black households experienced far greater price volatility than white households during that time, Lee’s research shows — meaning it was harder for them to figure out how much their money could buy over time. Related: What 8.6% inflation looks like for the average grocery shopper — bacon is over $7 a pound, cookies are up 49 cents
And because of the spike in gas prices, Lee said, it’s more expensive to shop around for cheaper goods. That might be particularly salient for people living in food deserts — areas that lack healthy, affordable food options — which are more prevalent in neighborhoods of color, forcing residents to travel farther for necessities.
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