“Inflation has been a surprising and unwelcome guest seeming to persist at an elevated level at a time when we’re all hoping to put the devastating economic impacts of the pandemic behind,” said Mark Hamrick, senior economic analyst for Bankrate. “Like the pandemic-caused downturn itself, it exacerbates wealth and income inequality. The wealthy can adjust. Those on lower incomes, not so much. It is as if some people just can’t catch a much-needed break.”
Prices are way up compared with what we were used to pre-pandemic. But this isn’t a fun ride. Here’s how to handle a rise in consumer prices.