Summary:
Inflation just rose .6 percent in January, which is the biggest one month inflation increase since 2013. Also, over the last twelve months, prices moved up 2.5%. This is not a good thing for families that are living paycheck to paycheck. Inflation drives the prices of consumer goods through the roof, making it harder to afford things. Gas prices increased by 7.8%, clothing by 1.4%, raw materials by 1%, consumers goods by .6%, and medical care prices by 3.2%.
Analysis: I think that this is a very sad thing that is happening for lower income families and everyone in general. A large fluctuation in inflation can raise prices by a lot. This is bad for every American, but for the lower income families, this will hit them very hard. If they have to pay the forever climbing price of rent, gas, groceries, and medical bills, they will have very little spending money at the end of the month. I hope that this small hiccup in the economy lowers again for the sake of poorer families.
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