From Financial Modeling Prep: 2024-12-08 05:19:39

Wells Fargo’s report reveals lower-income households, earning under $50,000 annually, are most impacted by rising inflation. Basic living expenses like food, energy, and housing are taking up a larger portion of their income, leaving little room for discretionary spending. Higher-income households are less affected due to more disposable income.

Inflation is being driven by supply chain disruptions and wage growth. Global challenges and rising wages are pushing prices higher, with recovery expected to take time. Wells Fargo’s report suggests that wage growth could lead to longer-term inflationary pressures, impacting businesses and financial health.

The future outlook on inflation varies across income groups, with lower-income households facing ongoing challenges. The economy will need to adjust through monetary policies and market shifts. Recovery will depend on supply chain improvements and how wage growth is managed in the coming months, affecting different sectors differently.



Read more at Financial Modeling Prep:: Who’s Feeling the Impact of Inflation? Wells Fargo…