Inflation Has Gone K-Shaped in the Pandemic Like Everything Else_老虎社区_美港股上老虎

Inflation Has Gone K-Shaped in the Pandemic Like Everything Else

Bloomberg2021-04-08

Prices of food, gasoline eat into budget of poorer households Inflation gap adds to inequalities Biden has vowed to redress Low-income Americans bore the brunt of job losses when the pandemic arrived...

网页链接

免责声明：本文观点仅代表作者个人观点，不构成本平台的投资建议，本平台不对文章信息准确性、完整性和及时性做出任何保证，亦不对因使用或信赖文章信息引发的任何损失承担责任。

aliciatng
·2021-04-08
Comment
回复
2
举报
收起
- Zhenghao:
  Nice
  2021-04-08
  回复
  举报
- aliciatng:
  thanks
  2021-04-08
  回复
  举报
Jo2021
·2021-04-08
This is quite interesting...
回复
1
举报
收起
- MFME:
  K = kuku??
  2021-04-08
  回复
  举报
yl13413
·2021-04-08
Cool
回复
1
举报

热议股票

7x24

全部

关于我们·老虎社区守则·老虎社区账号管理规范·老虎社区服务协议·老虎社区隐私政策

公司名称：北京至简风宜信息技术有限公司

违法和不良信息投诉：010-5681-3562（工作时间9:30-18:30）

邮箱：service@laohu8.com

营业执照：91110105MA01A4U55R

ICP备：京ICP备18016422号

网安备：京公网安备11010502036490

关注我们

{"i18n":{"language":"zh_CN"},"data":{"share":"https://www.laohu8.com/m/news/1143565942?lang=zh_CN&edition=full","thumbnail":"","is_english":true,"pubTime":"2021-04-08 18:57","share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","id":"1143565942","market":"us","top_or_hot":-1,"title":"Inflation Has Gone K-Shaped in the Pandemic Like Everything Else","media":"Bloomberg","content":"<div>\n<p>Prices of food, gasoline eat into budget of poorer households\nInflation gap adds to inequalities Biden has vowed to redress\n\nLow-income Americans bore the brunt of job losses when the pandemic arrived...</p>\n\n<a href=\"http://bloomberg.com/news/articles/2021-04-08/inflation-has-gone-k-shaped-in-the-pandemic-like-everything-else\">网页链接</a>\n\n</div>\n","source":"lsy1584095487587","html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Inflation Has Gone K-Shaped in the Pandemic Like Everything Else</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nInflation Has Gone K-Shaped in the Pandemic Like Everything Else\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-04-08 18:57 GMT+8&nbsp;&nbsp;&nbsp;<a href=http://bloomberg.com/news/articles/2021-04-08/inflation-has-gone-k-shaped-in-the-pandemic-like-everything-else><strong>Bloomberg</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Prices of food, gasoline eat into budget of poorer households\nInflation gap adds to inequalities Biden has vowed to redress\n\nLow-income Americans bore the brunt of job losses when the pandemic arrived...</p>\n\n<a href=\"http://bloomberg.com/news/articles/2021-04-08/inflation-has-gone-k-shaped-in-the-pandemic-like-everything-else\">网页链接</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":".IXIC","symbol_name":"NASDAQ Composite","start_time":0,"source_url":"http://bloomberg.com/news/articles/2021-04-08/inflation-has-gone-k-shaped-in-the-pandemic-like-everything-else","article_id":"1143565942","we_media_id":null,"thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=1143565942","pubTimestamp":1617879430,"columns":[],"sourceInfo":{"source_id":"lsy1584095487587","name":"Bloomberg"},"weMediaInfo":null,"summary":"Prices of food, gasoline eat into budget of poorer households\nInflation gap adds to inequalities Bid","collect":0,"end_time":0,"defaultTopTitle":"bloomberg.com","property":[],"viewcount":null,"language":"en","relate_stocks":{".IXIC":"NASDAQ Composite",".DJI":"道琼斯",".SPX":"S&P 500 Index"},"translate_title":"通货膨胀在这场大流行中像其他一切一样呈K形","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{".DJI":0.9,".IXIC":0.9,".SPX":0.9},"content_text":"Prices of food, gasoline eat into budget of poorer households\nInflation gap adds to inequalities Biden has vowed to redress\n\nLow-income Americans bore the brunt of job losses when the pandemic arrived. Now they’re getting hit hardest by price increases as the economy recovers.\nThe headline consumer inflation rate in the U.S. remains subdued, at 1.7% -- but it masks large differences in what people actually buy.\nSome of the biggest price hikes of recent months, for example, have come in gasoline. A gallon of regular is up 75 cents since late last year –- adding more than $60 a month to the budget of someone who fills up with 20 gallons a week.\nFood-price inflation is running at more than double the headline rate, and staples like household cleaning products have also climbed.\n\nPrice increases like these are causing trouble all over the world-- and they tend to hurt low-income people most. That’s because groceries or gas take up a bigger share of their monthly shopping basket than is the case for wealthier households, and they’re items that can’t easily be deferred or substituted.\nK-Shaped\nAnanalysis by BloombergEconomics, which reweighted consumer-price baskets based on the spending habits of different income groups, found that the richest Americans are experiencing the lowest level of inflation.\nThose same high-earners already posted windfall gains during what’s been labeled a K-shaped recovery from the pandemic. Their net worth surged, thanks to booming stock and real-estate markets -– and they mostly kept their jobs and were able to work from home.\n\n What Bloomberg Economics Says...\n\n\n “On average, higher-income households spend a smaller fraction of their budgets on food, medical care, and rent, all categories that have seen faster inflation than the headline in recent years, and 2020 in particular.”\n\n\n -- Andrew Husby, economist\n\nThe richest 10% of households captured 70% of wealth created in 2020, according to the Federal Reserve, while the bottom half got just 4%. A January study by Opportunity Insights, a Harvard research project, found that the recession was essentially over for those making at least $60,000 a year, while employment among the lowest-paid –- who earn less than half that amount –- was still almost 30% below pre-pandemic levels.\nThe question of who exactly gets hurt by higher prices could become more urgent as inflation accelerates. Most economists expect a pickup in the next 12 months.\n\nThe Fed, which is in charge of keeping inflation under control, says any increase will likely prove temporary. The central bank isn’t planning to use its inflation-fighting tool of higher interest rates anytime soon.\nThe idea behind the Fed’s new thinking is that allowing the economy to run a bit hotter -- and inflation to creep a bit higher -- will actually help to reduce income inequalities, because it will encourage a strong jobs market that benefits low-paid Americans the most. There’s some evidence that this is already happening in the restaurant, hotel and other service industries.\nMeanwhile, the Biden administration says it will push U.S. statisticians to produce more detailed data that breaks down economic outcomes for different racial or income groups.\nThat initiative could have consequences for people whose incomes are tied to measures of inflation -- like recipients of Social Security or food stamps. They can get squeezed when those gauges fail to accurately capture changes in the cost of living. There’s been talk in the past, for example, of pegging Social Security to an index that specifically measures the inflation experienced by older people.\n‘Uneven Effects’\nThe distributional questions raised by higher prices aren’t just a U.S. phenomenon.\nA United Nations gauge of global food costs rose for a ninth straight month in February, the longest run of increases since 2008 when the world faced the first of two food crises within a few years.\n“The food price story and inflation story are important to the issue of equality,” says Carmen Reinhart, the World Bank’s chief economist. “It’s a shock that has very uneven effects.”\nThe problem of K-shaped inflation predates the pandemic and may have deep-rooted causes, according to Xavier Jaravel, an assistant professor at the London School of Economics.\nHis research has shown that a key reason why richer people experience lower rates of inflation is that there’s more competition among producers for their dollars –- leading to higher levels of innovation in the kind of goods and services bought by the wealthy, which helps keep prices down.\n“One canhopethat statistical agencies around the world will soon adopt new data sources and priceindicesto better measure inflation inequality,” Jaravel wrote in a recent paper, “and that economists will pay more attention to the distributional effects of prices.”","kind":"news","is_publish_news":true,"is_publish_highlight":true,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"0","news_tag":"","news_rank":0,"symbols":[],"gpt_button":1},"commentList":[{"id":348961587,"gmtCreate":1617880626049,"gmtModify":1634296001064,"author":{"id":"3572214398550610","authorId":"3572214398550610","name":"aliciatng","avatar":"https://static.tigerbbs.com/c4b23ee891a1061c7907495a9c7da890","vip":1,"crmLevel":3,"crmLevelSwitch":0,"idStr":"3572214398550610","authorIdStr":"3572214398550610"},"htmlText":"Comment&nbsp;","listText":"Comment&nbsp;","text":"Comment","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":2,"repostSize":0,"link":"https://laohu8.com/post/348961587","repostId":1143565942,"repostType":4,"repost":{"id":"1143565942","kind":"news","pubTimestamp":1617879430,"share":"https://www.laohu8.com/m/news/1143565942?lang=&edition=full","pubTime":"2021-04-08 18:57","market":"us","language":"en","title":"Inflation Has Gone K-Shaped in the Pandemic Like Everything Else","url":"https://stock-news.laohu8.com/highlight/detail?id=1143565942","media":"Bloomberg","summary":"Prices of food, gasoline eat into budget of poorer households\nInflation gap adds to inequalities Bid","content":"<ul>\n <li>Prices of food, gasoline eat into budget of poorer households</li>\n <li>Inflation gap adds to inequalities Biden has vowed to redress</li>\n</ul>\n<p>Low-income Americans bore the brunt of job losses when the pandemic arrived. Now they’re getting hit hardest by price increases as the economy recovers.</p>\n<p>The headline consumer inflation rate in the U.S. remains subdued, at 1.7% -- but it masks large differences in what people actually buy.</p>\n<p>Some of the biggest price hikes of recent months, for example, have come in gasoline. A gallon of regular is up 75 cents since late last year –- adding more than $60 a month to the budget of someone who fills up with 20 gallons a week.</p>\n<p>Food-price inflation is running at more than double the headline rate, and staples like household cleaning products have also climbed.</p>\n<p><img src=\"https://static.tigerbbs.com/699347e3607664220ed632fc150c870b\" tg-width=\"954\" tg-height=\"528\"></p>\n<p>Price increases like these are causing trouble&nbsp;all over the world-- and they tend to hurt low-income people most. That’s because groceries or gas take up a bigger share of their monthly shopping basket than is the case for wealthier households, and they’re items that can’t easily be deferred or substituted.</p>\n<p><b>K-Shaped</b></p>\n<p>Ananalysis by BloombergEconomics, which reweighted consumer-price baskets based on the spending habits of different income groups, found that the richest Americans are experiencing the lowest level of inflation.</p>\n<p>Those same high-earners already posted windfall gains during what’s been labeled a K-shaped recovery from the pandemic. Their net worth surged, thanks to booming stock and real-estate markets -– and they mostly kept their jobs and were able to work from home.</p>\n<blockquote>\n What Bloomberg Economics Says...\n</blockquote>\n<blockquote>\n “On average, higher-income households spend a smaller fraction of their budgets on food, medical care, and rent, all categories that have seen faster inflation than the headline in recent years, and 2020 in particular.”\n</blockquote>\n<blockquote>\n -- Andrew Husby, economist\n</blockquote>\n<p>The richest 10% of households captured 70% of wealth created in 2020, according to the Federal Reserve, while the bottom half got just 4%. A January study by Opportunity Insights, a Harvard research project, found that the recession was essentially over for those making at least $60,000 a year, while employment among the lowest-paid –- who earn less than half that amount –- was still almost 30% below pre-pandemic levels.</p>\n<p>The question of who exactly gets hurt by higher prices could become more urgent as inflation accelerates. Most economists expect a pickup in the next 12 months.</p>\n<p><img src=\"https://static.tigerbbs.com/0e5b27ca0d94e5e40ac6f52aba4083f7\" tg-width=\"956\" tg-height=\"553\"></p>\n<p>The Fed, which is in charge of keeping inflation under control, says any increase will likely prove temporary. The central bank isn’t planning to use its inflation-fighting tool of higher interest rates anytime soon.</p>\n<p>The idea behind the Fed’s new thinking is that allowing the economy to run a bit hotter -- and inflation to creep a bit higher -- will actually help to reduce income inequalities, because it will encourage a strong jobs market that benefits low-paid Americans the most. There’s some evidence that this is already happening in the restaurant, hotel and other service industries.</p>\n<p>Meanwhile, the Biden administration says it will push U.S. statisticians to produce more detailed data that breaks down economic outcomes for different racial or income groups.</p>\n<p>That initiative could have consequences for people whose incomes are tied to measures of inflation -- like recipients of Social Security or food stamps. They can get squeezed when those gauges fail to accurately capture changes in the cost of living. There’s been talk in the past, for example, of pegging Social Security to an index that specifically measures the inflation experienced by older people.</p>\n<p><b>‘Uneven Effects’</b></p>\n<p>The distributional questions raised by higher prices aren’t just a U.S. phenomenon.</p>\n<p>A United Nations gauge of global food costs rose for a ninth straight month in February, the longest run of increases since 2008 when the world faced the first of two food crises within a few years.</p>\n<p>“The food price story and inflation story are important to the issue of equality,” says Carmen Reinhart, the World Bank’s chief economist. “It’s a shock that has very uneven effects.”</p>\n<p>The problem of K-shaped inflation predates the pandemic and may have deep-rooted causes, according to Xavier Jaravel, an assistant professor at the London School of Economics.</p>\n<p>His research has shown that a key reason why richer people experience lower rates of inflation is that there’s more competition among producers for their dollars –- leading to higher levels of innovation in the kind of goods and services bought by the wealthy, which helps keep prices down.</p>\n<p>“One canhopethat statistical agencies around the world will soon adopt new data sources and priceindicesto better measure inflation inequality,” Jaravel wrote in a recent paper, “and that economists will pay more attention to the distributional effects of prices.”</p>","source":"lsy1584095487587","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Inflation Has Gone K-Shaped in the Pandemic Like Everything Else</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nInflation Has Gone K-Shaped in the Pandemic Like Everything Else\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-04-08 18:57 GMT+8&nbsp;&nbsp;&nbsp;<a href=http://bloomberg.com/news/articles/2021-04-08/inflation-has-gone-k-shaped-in-the-pandemic-like-everything-else><strong>Bloomberg</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Prices of food, gasoline eat into budget of poorer households\nInflation gap adds to inequalities Biden has vowed to redress\n\nLow-income Americans bore the brunt of job losses when the pandemic arrived...</p>\n\n<a href=\"http://bloomberg.com/news/articles/2021-04-08/inflation-has-gone-k-shaped-in-the-pandemic-like-everything-else\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{".IXIC":"NASDAQ Composite",".SPX":"S&P 500 Index",".DJI":"道琼斯"},"source_url":"http://bloomberg.com/news/articles/2021-04-08/inflation-has-gone-k-shaped-in-the-pandemic-like-everything-else","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1143565942","content_text":"Prices of food, gasoline eat into budget of poorer households\nInflation gap adds to inequalities Biden has vowed to redress\n\nLow-income Americans bore the brunt of job losses when the pandemic arrived. Now they’re getting hit hardest by price increases as the economy recovers.\nThe headline consumer inflation rate in the U.S. remains subdued, at 1.7% -- but it masks large differences in what people actually buy.\nSome of the biggest price hikes of recent months, for example, have come in gasoline. A gallon of regular is up 75 cents since late last year –- adding more than $60 a month to the budget of someone who fills up with 20 gallons a week.\nFood-price inflation is running at more than double the headline rate, and staples like household cleaning products have also climbed.\n\nPrice increases like these are causing trouble all over the world-- and they tend to hurt low-income people most. That’s because groceries or gas take up a bigger share of their monthly shopping basket than is the case for wealthier households, and they’re items that can’t easily be deferred or substituted.\nK-Shaped\nAnanalysis by BloombergEconomics, which reweighted consumer-price baskets based on the spending habits of different income groups, found that the richest Americans are experiencing the lowest level of inflation.\nThose same high-earners already posted windfall gains during what’s been labeled a K-shaped recovery from the pandemic. Their net worth surged, thanks to booming stock and real-estate markets -– and they mostly kept their jobs and were able to work from home.\n\n What Bloomberg Economics Says...\n\n\n “On average, higher-income households spend a smaller fraction of their budgets on food, medical care, and rent, all categories that have seen faster inflation than the headline in recent years, and 2020 in particular.”\n\n\n -- Andrew Husby, economist\n\nThe richest 10% of households captured 70% of wealth created in 2020, according to the Federal Reserve, while the bottom half got just 4%. A January study by Opportunity Insights, a Harvard research project, found that the recession was essentially over for those making at least $60,000 a year, while employment among the lowest-paid –- who earn less than half that amount –- was still almost 30% below pre-pandemic levels.\nThe question of who exactly gets hurt by higher prices could become more urgent as inflation accelerates. Most economists expect a pickup in the next 12 months.\n\nThe Fed, which is in charge of keeping inflation under control, says any increase will likely prove temporary. The central bank isn’t planning to use its inflation-fighting tool of higher interest rates anytime soon.\nThe idea behind the Fed’s new thinking is that allowing the economy to run a bit hotter -- and inflation to creep a bit higher -- will actually help to reduce income inequalities, because it will encourage a strong jobs market that benefits low-paid Americans the most. There’s some evidence that this is already happening in the restaurant, hotel and other service industries.\nMeanwhile, the Biden administration says it will push U.S. statisticians to produce more detailed data that breaks down economic outcomes for different racial or income groups.\nThat initiative could have consequences for people whose incomes are tied to measures of inflation -- like recipients of Social Security or food stamps. They can get squeezed when those gauges fail to accurately capture changes in the cost of living. There’s been talk in the past, for example, of pegging Social Security to an index that specifically measures the inflation experienced by older people.\n‘Uneven Effects’\nThe distributional questions raised by higher prices aren’t just a U.S. phenomenon.\nA United Nations gauge of global food costs rose for a ninth straight month in February, the longest run of increases since 2008 when the world faced the first of two food crises within a few years.\n“The food price story and inflation story are important to the issue of equality,” says Carmen Reinhart, the World Bank’s chief economist. “It’s a shock that has very uneven effects.”\nThe problem of K-shaped inflation predates the pandemic and may have deep-rooted causes, according to Xavier Jaravel, an assistant professor at the London School of Economics.\nHis research has shown that a key reason why richer people experience lower rates of inflation is that there’s more competition among producers for their dollars –- leading to higher levels of innovation in the kind of goods and services bought by the wealthy, which helps keep prices down.\n“One canhopethat statistical agencies around the world will soon adopt new data sources and priceindicesto better measure inflation inequality,” Jaravel wrote in a recent paper, “and that economists will pay more attention to the distributional effects of prices.”","news_type":1},"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"comments":[{"id":3987009,"gmtCreate":1617880798419,"gmtModify":1635742183156,"authorId":3577189579318003,"author":{"id":3577189579318003,"idStr":"3577189579318003","authorId":3577189579318003,"name":"Zhenghao","avatar":"https://static.tigerbbs.com/9bc02f1c85fb8e61dbc393ac0ad551db","vip":1,"crmLevel":2,"crmLevelSwitch":0,"individualDisplayBadges":[]},"repliedAuthorId":0,"objectId":348961587,"type":1,"supId":0,"prevId":0,"content":"Nice","text":"Nice","html":"Nice"},{"id":3988201,"gmtCreate":1617890487204,"gmtModify":1635742106937,"authorId":3572214398550610,"author":{"id":3572214398550610,"idStr":"3572214398550610","authorId":3572214398550610,"name":"aliciatng","avatar":"https://static.tigerbbs.com/c4b23ee891a1061c7907495a9c7da890","vip":1,"crmLevel":3,"crmLevelSwitch":0,"individualDisplayBadges":[]},"repliedAuthorId":0,"objectId":348961587,"type":1,"supId":3987009,"prevId":0,"content":"thanks","text":"thanks","html":"thanks"}],"langContent":"EN"},{"id":348981024,"gmtCreate":1617879733368,"gmtModify":1634296008104,"author":{"id":"3571917985322875","authorId":"3571917985322875","name":"Jo2021","avatar":"https://static.tigerbbs.com/d186b317dbe61e4c143700353fa1277c","vip":1,"crmLevel":4,"crmLevelSwitch":0,"idStr":"3571917985322875","authorIdStr":"3571917985322875"},"htmlText":"This is quite interesting...&nbsp;","listText":"This is quite interesting...&nbsp;","text":"This is quite interesting...","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/348981024","repostId":1143565942,"repostType":4,"repost":{"id":"1143565942","kind":"news","pubTimestamp":1617879430,"share":"https://www.laohu8.com/m/news/1143565942?lang=&edition=full","pubTime":"2021-04-08 18:57","market":"us","language":"en","title":"Inflation Has Gone K-Shaped in the Pandemic Like Everything Else","url":"https://stock-news.laohu8.com/highlight/detail?id=1143565942","media":"Bloomberg","summary":"Prices of food, gasoline eat into budget of poorer households\nInflation gap adds to inequalities Bid","content":"<ul>\n <li>Prices of food, gasoline eat into budget of poorer households</li>\n <li>Inflation gap adds to inequalities Biden has vowed to redress</li>\n</ul>\n<p>Low-income Americans bore the brunt of job losses when the pandemic arrived. Now they’re getting hit hardest by price increases as the economy recovers.</p>\n<p>The headline consumer inflation rate in the U.S. remains subdued, at 1.7% -- but it masks large differences in what people actually buy.</p>\n<p>Some of the biggest price hikes of recent months, for example, have come in gasoline. A gallon of regular is up 75 cents since late last year –- adding more than $60 a month to the budget of someone who fills up with 20 gallons a week.</p>\n<p>Food-price inflation is running at more than double the headline rate, and staples like household cleaning products have also climbed.</p>\n<p><img src=\"https://static.tigerbbs.com/699347e3607664220ed632fc150c870b\" tg-width=\"954\" tg-height=\"528\"></p>\n<p>Price increases like these are causing trouble&nbsp;all over the world-- and they tend to hurt low-income people most. That’s because groceries or gas take up a bigger share of their monthly shopping basket than is the case for wealthier households, and they’re items that can’t easily be deferred or substituted.</p>\n<p><b>K-Shaped</b></p>\n<p>Ananalysis by BloombergEconomics, which reweighted consumer-price baskets based on the spending habits of different income groups, found that the richest Americans are experiencing the lowest level of inflation.</p>\n<p>Those same high-earners already posted windfall gains during what’s been labeled a K-shaped recovery from the pandemic. Their net worth surged, thanks to booming stock and real-estate markets -– and they mostly kept their jobs and were able to work from home.</p>\n<blockquote>\n What Bloomberg Economics Says...\n</blockquote>\n<blockquote>\n “On average, higher-income households spend a smaller fraction of their budgets on food, medical care, and rent, all categories that have seen faster inflation than the headline in recent years, and 2020 in particular.”\n</blockquote>\n<blockquote>\n -- Andrew Husby, economist\n</blockquote>\n<p>The richest 10% of households captured 70% of wealth created in 2020, according to the Federal Reserve, while the bottom half got just 4%. A January study by Opportunity Insights, a Harvard research project, found that the recession was essentially over for those making at least $60,000 a year, while employment among the lowest-paid –- who earn less than half that amount –- was still almost 30% below pre-pandemic levels.</p>\n<p>The question of who exactly gets hurt by higher prices could become more urgent as inflation accelerates. Most economists expect a pickup in the next 12 months.</p>\n<p><img src=\"https://static.tigerbbs.com/0e5b27ca0d94e5e40ac6f52aba4083f7\" tg-width=\"956\" tg-height=\"553\"></p>\n<p>The Fed, which is in charge of keeping inflation under control, says any increase will likely prove temporary. The central bank isn’t planning to use its inflation-fighting tool of higher interest rates anytime soon.</p>\n<p>The idea behind the Fed’s new thinking is that allowing the economy to run a bit hotter -- and inflation to creep a bit higher -- will actually help to reduce income inequalities, because it will encourage a strong jobs market that benefits low-paid Americans the most. There’s some evidence that this is already happening in the restaurant, hotel and other service industries.</p>\n<p>Meanwhile, the Biden administration says it will push U.S. statisticians to produce more detailed data that breaks down economic outcomes for different racial or income groups.</p>\n<p>That initiative could have consequences for people whose incomes are tied to measures of inflation -- like recipients of Social Security or food stamps. They can get squeezed when those gauges fail to accurately capture changes in the cost of living. There’s been talk in the past, for example, of pegging Social Security to an index that specifically measures the inflation experienced by older people.</p>\n<p><b>‘Uneven Effects’</b></p>\n<p>The distributional questions raised by higher prices aren’t just a U.S. phenomenon.</p>\n<p>A United Nations gauge of global food costs rose for a ninth straight month in February, the longest run of increases since 2008 when the world faced the first of two food crises within a few years.</p>\n<p>“The food price story and inflation story are important to the issue of equality,” says Carmen Reinhart, the World Bank’s chief economist. “It’s a shock that has very uneven effects.”</p>\n<p>The problem of K-shaped inflation predates the pandemic and may have deep-rooted causes, according to Xavier Jaravel, an assistant professor at the London School of Economics.</p>\n<p>His research has shown that a key reason why richer people experience lower rates of inflation is that there’s more competition among producers for their dollars –- leading to higher levels of innovation in the kind of goods and services bought by the wealthy, which helps keep prices down.</p>\n<p>“One canhopethat statistical agencies around the world will soon adopt new data sources and priceindicesto better measure inflation inequality,” Jaravel wrote in a recent paper, “and that economists will pay more attention to the distributional effects of prices.”</p>","source":"lsy1584095487587","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Inflation Has Gone K-Shaped in the Pandemic Like Everything Else</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nInflation Has Gone K-Shaped in the Pandemic Like Everything Else\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-04-08 18:57 GMT+8&nbsp;&nbsp;&nbsp;<a href=http://bloomberg.com/news/articles/2021-04-08/inflation-has-gone-k-shaped-in-the-pandemic-like-everything-else><strong>Bloomberg</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Prices of food, gasoline eat into budget of poorer households\nInflation gap adds to inequalities Biden has vowed to redress\n\nLow-income Americans bore the brunt of job losses when the pandemic arrived...</p>\n\n<a href=\"http://bloomberg.com/news/articles/2021-04-08/inflation-has-gone-k-shaped-in-the-pandemic-like-everything-else\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{".IXIC":"NASDAQ Composite",".SPX":"S&P 500 Index",".DJI":"道琼斯"},"source_url":"http://bloomberg.com/news/articles/2021-04-08/inflation-has-gone-k-shaped-in-the-pandemic-like-everything-else","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1143565942","content_text":"Prices of food, gasoline eat into budget of poorer households\nInflation gap adds to inequalities Biden has vowed to redress\n\nLow-income Americans bore the brunt of job losses when the pandemic arrived. Now they’re getting hit hardest by price increases as the economy recovers.\nThe headline consumer inflation rate in the U.S. remains subdued, at 1.7% -- but it masks large differences in what people actually buy.\nSome of the biggest price hikes of recent months, for example, have come in gasoline. A gallon of regular is up 75 cents since late last year –- adding more than $60 a month to the budget of someone who fills up with 20 gallons a week.\nFood-price inflation is running at more than double the headline rate, and staples like household cleaning products have also climbed.\n\nPrice increases like these are causing trouble all over the world-- and they tend to hurt low-income people most. That’s because groceries or gas take up a bigger share of their monthly shopping basket than is the case for wealthier households, and they’re items that can’t easily be deferred or substituted.\nK-Shaped\nAnanalysis by BloombergEconomics, which reweighted consumer-price baskets based on the spending habits of different income groups, found that the richest Americans are experiencing the lowest level of inflation.\nThose same high-earners already posted windfall gains during what’s been labeled a K-shaped recovery from the pandemic. Their net worth surged, thanks to booming stock and real-estate markets -– and they mostly kept their jobs and were able to work from home.\n\n What Bloomberg Economics Says...\n\n\n “On average, higher-income households spend a smaller fraction of their budgets on food, medical care, and rent, all categories that have seen faster inflation than the headline in recent years, and 2020 in particular.”\n\n\n -- Andrew Husby, economist\n\nThe richest 10% of households captured 70% of wealth created in 2020, according to the Federal Reserve, while the bottom half got just 4%. A January study by Opportunity Insights, a Harvard research project, found that the recession was essentially over for those making at least $60,000 a year, while employment among the lowest-paid –- who earn less than half that amount –- was still almost 30% below pre-pandemic levels.\nThe question of who exactly gets hurt by higher prices could become more urgent as inflation accelerates. Most economists expect a pickup in the next 12 months.\n\nThe Fed, which is in charge of keeping inflation under control, says any increase will likely prove temporary. The central bank isn’t planning to use its inflation-fighting tool of higher interest rates anytime soon.\nThe idea behind the Fed’s new thinking is that allowing the economy to run a bit hotter -- and inflation to creep a bit higher -- will actually help to reduce income inequalities, because it will encourage a strong jobs market that benefits low-paid Americans the most. There’s some evidence that this is already happening in the restaurant, hotel and other service industries.\nMeanwhile, the Biden administration says it will push U.S. statisticians to produce more detailed data that breaks down economic outcomes for different racial or income groups.\nThat initiative could have consequences for people whose incomes are tied to measures of inflation -- like recipients of Social Security or food stamps. They can get squeezed when those gauges fail to accurately capture changes in the cost of living. There’s been talk in the past, for example, of pegging Social Security to an index that specifically measures the inflation experienced by older people.\n‘Uneven Effects’\nThe distributional questions raised by higher prices aren’t just a U.S. phenomenon.\nA United Nations gauge of global food costs rose for a ninth straight month in February, the longest run of increases since 2008 when the world faced the first of two food crises within a few years.\n“The food price story and inflation story are important to the issue of equality,” says Carmen Reinhart, the World Bank’s chief economist. “It’s a shock that has very uneven effects.”\nThe problem of K-shaped inflation predates the pandemic and may have deep-rooted causes, according to Xavier Jaravel, an assistant professor at the London School of Economics.\nHis research has shown that a key reason why richer people experience lower rates of inflation is that there’s more competition among producers for their dollars –- leading to higher levels of innovation in the kind of goods and services bought by the wealthy, which helps keep prices down.\n“One canhopethat statistical agencies around the world will soon adopt new data sources and priceindicesto better measure inflation inequality,” Jaravel wrote in a recent paper, “and that economists will pay more attention to the distributional effects of prices.”","news_type":1},"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"comments":[{"id":3986973,"gmtCreate":1617880262218,"gmtModify":1635742185530,"authorId":3574399983193226,"author":{"id":3574399983193226,"idStr":"3574399983193226","authorId":3574399983193226,"name":"MFME","avatar":"https://static.tigerbbs.com/9c7d2325aa9eb91869c4c7144270a75a","vip":1,"crmLevel":7,"crmLevelSwitch":0,"individualDisplayBadges":[]},"repliedAuthorId":0,"objectId":348981024,"type":1,"supId":0,"prevId":0,"content":"K = kuku??","text":"K = kuku??","html":"K = kuku??"}],"langContent":"EN"},{"id":348983088,"gmtCreate":1617879625044,"gmtModify":1634296008705,"author":{"id":"3577609996403814","authorId":"3577609996403814","name":"yl13413","avatar":"https://static.laohu8.com/default-avatar.jpg","vip":1,"crmLevel":5,"crmLevelSwitch":0,"idStr":"3577609996403814","authorIdStr":"3577609996403814"},"htmlText":"Cool","listText":"Cool","text":"Cool","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/348983088","repostId":1143565942,"repostType":4,"repost":{"id":"1143565942","kind":"news","pubTimestamp":1617879430,"share":"https://www.laohu8.com/m/news/1143565942?lang=&edition=full","pubTime":"2021-04-08 18:57","market":"us","language":"en","title":"Inflation Has Gone K-Shaped in the Pandemic Like Everything Else","url":"https://stock-news.laohu8.com/highlight/detail?id=1143565942","media":"Bloomberg","summary":"Prices of food, gasoline eat into budget of poorer households\nInflation gap adds to inequalities Bid","content":"<ul>\n <li>Prices of food, gasoline eat into budget of poorer households</li>\n <li>Inflation gap adds to inequalities Biden has vowed to redress</li>\n</ul>\n<p>Low-income Americans bore the brunt of job losses when the pandemic arrived. Now they’re getting hit hardest by price increases as the economy recovers.</p>\n<p>The headline consumer inflation rate in the U.S. remains subdued, at 1.7% -- but it masks large differences in what people actually buy.</p>\n<p>Some of the biggest price hikes of recent months, for example, have come in gasoline. A gallon of regular is up 75 cents since late last year –- adding more than $60 a month to the budget of someone who fills up with 20 gallons a week.</p>\n<p>Food-price inflation is running at more than double the headline rate, and staples like household cleaning products have also climbed.</p>\n<p><img src=\"https://static.tigerbbs.com/699347e3607664220ed632fc150c870b\" tg-width=\"954\" tg-height=\"528\"></p>\n<p>Price increases like these are causing trouble&nbsp;all over the world-- and they tend to hurt low-income people most. That’s because groceries or gas take up a bigger share of their monthly shopping basket than is the case for wealthier households, and they’re items that can’t easily be deferred or substituted.</p>\n<p><b>K-Shaped</b></p>\n<p>Ananalysis by BloombergEconomics, which reweighted consumer-price baskets based on the spending habits of different income groups, found that the richest Americans are experiencing the lowest level of inflation.</p>\n<p>Those same high-earners already posted windfall gains during what’s been labeled a K-shaped recovery from the pandemic. Their net worth surged, thanks to booming stock and real-estate markets -– and they mostly kept their jobs and were able to work from home.</p>\n<blockquote>\n What Bloomberg Economics Says...\n</blockquote>\n<blockquote>\n “On average, higher-income households spend a smaller fraction of their budgets on food, medical care, and rent, all categories that have seen faster inflation than the headline in recent years, and 2020 in particular.”\n</blockquote>\n<blockquote>\n -- Andrew Husby, economist\n</blockquote>\n<p>The richest 10% of households captured 70% of wealth created in 2020, according to the Federal Reserve, while the bottom half got just 4%. A January study by Opportunity Insights, a Harvard research project, found that the recession was essentially over for those making at least $60,000 a year, while employment among the lowest-paid –- who earn less than half that amount –- was still almost 30% below pre-pandemic levels.</p>\n<p>The question of who exactly gets hurt by higher prices could become more urgent as inflation accelerates. Most economists expect a pickup in the next 12 months.</p>\n<p><img src=\"https://static.tigerbbs.com/0e5b27ca0d94e5e40ac6f52aba4083f7\" tg-width=\"956\" tg-height=\"553\"></p>\n<p>The Fed, which is in charge of keeping inflation under control, says any increase will likely prove temporary. The central bank isn’t planning to use its inflation-fighting tool of higher interest rates anytime soon.</p>\n<p>The idea behind the Fed’s new thinking is that allowing the economy to run a bit hotter -- and inflation to creep a bit higher -- will actually help to reduce income inequalities, because it will encourage a strong jobs market that benefits low-paid Americans the most. There’s some evidence that this is already happening in the restaurant, hotel and other service industries.</p>\n<p>Meanwhile, the Biden administration says it will push U.S. statisticians to produce more detailed data that breaks down economic outcomes for different racial or income groups.</p>\n<p>That initiative could have consequences for people whose incomes are tied to measures of inflation -- like recipients of Social Security or food stamps. They can get squeezed when those gauges fail to accurately capture changes in the cost of living. There’s been talk in the past, for example, of pegging Social Security to an index that specifically measures the inflation experienced by older people.</p>\n<p><b>‘Uneven Effects’</b></p>\n<p>The distributional questions raised by higher prices aren’t just a U.S. phenomenon.</p>\n<p>A United Nations gauge of global food costs rose for a ninth straight month in February, the longest run of increases since 2008 when the world faced the first of two food crises within a few years.</p>\n<p>“The food price story and inflation story are important to the issue of equality,” says Carmen Reinhart, the World Bank’s chief economist. “It’s a shock that has very uneven effects.”</p>\n<p>The problem of K-shaped inflation predates the pandemic and may have deep-rooted causes, according to Xavier Jaravel, an assistant professor at the London School of Economics.</p>\n<p>His research has shown that a key reason why richer people experience lower rates of inflation is that there’s more competition among producers for their dollars –- leading to higher levels of innovation in the kind of goods and services bought by the wealthy, which helps keep prices down.</p>\n<p>“One canhopethat statistical agencies around the world will soon adopt new data sources and priceindicesto better measure inflation inequality,” Jaravel wrote in a recent paper, “and that economists will pay more attention to the distributional effects of prices.”</p>","source":"lsy1584095487587","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Inflation Has Gone K-Shaped in the Pandemic Like Everything Else</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nInflation Has Gone K-Shaped in the Pandemic Like Everything Else\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-04-08 18:57 GMT+8&nbsp;&nbsp;&nbsp;<a href=http://bloomberg.com/news/articles/2021-04-08/inflation-has-gone-k-shaped-in-the-pandemic-like-everything-else><strong>Bloomberg</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Prices of food, gasoline eat into budget of poorer households\nInflation gap adds to inequalities Biden has vowed to redress\n\nLow-income Americans bore the brunt of job losses when the pandemic arrived...</p>\n\n<a href=\"http://bloomberg.com/news/articles/2021-04-08/inflation-has-gone-k-shaped-in-the-pandemic-like-everything-else\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{".IXIC":"NASDAQ Composite",".SPX":"S&P 500 Index",".DJI":"道琼斯"},"source_url":"http://bloomberg.com/news/articles/2021-04-08/inflation-has-gone-k-shaped-in-the-pandemic-like-everything-else","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1143565942","content_text":"Prices of food, gasoline eat into budget of poorer households\nInflation gap adds to inequalities Biden has vowed to redress\n\nLow-income Americans bore the brunt of job losses when the pandemic arrived. Now they’re getting hit hardest by price increases as the economy recovers.\nThe headline consumer inflation rate in the U.S. remains subdued, at 1.7% -- but it masks large differences in what people actually buy.\nSome of the biggest price hikes of recent months, for example, have come in gasoline. A gallon of regular is up 75 cents since late last year –- adding more than $60 a month to the budget of someone who fills up with 20 gallons a week.\nFood-price inflation is running at more than double the headline rate, and staples like household cleaning products have also climbed.\n\nPrice increases like these are causing trouble all over the world-- and they tend to hurt low-income people most. That’s because groceries or gas take up a bigger share of their monthly shopping basket than is the case for wealthier households, and they’re items that can’t easily be deferred or substituted.\nK-Shaped\nAnanalysis by BloombergEconomics, which reweighted consumer-price baskets based on the spending habits of different income groups, found that the richest Americans are experiencing the lowest level of inflation.\nThose same high-earners already posted windfall gains during what’s been labeled a K-shaped recovery from the pandemic. Their net worth surged, thanks to booming stock and real-estate markets -– and they mostly kept their jobs and were able to work from home.\n\n What Bloomberg Economics Says...\n\n\n “On average, higher-income households spend a smaller fraction of their budgets on food, medical care, and rent, all categories that have seen faster inflation than the headline in recent years, and 2020 in particular.”\n\n\n -- Andrew Husby, economist\n\nThe richest 10% of households captured 70% of wealth created in 2020, according to the Federal Reserve, while the bottom half got just 4%. A January study by Opportunity Insights, a Harvard research project, found that the recession was essentially over for those making at least $60,000 a year, while employment among the lowest-paid –- who earn less than half that amount –- was still almost 30% below pre-pandemic levels.\nThe question of who exactly gets hurt by higher prices could become more urgent as inflation accelerates. Most economists expect a pickup in the next 12 months.\n\nThe Fed, which is in charge of keeping inflation under control, says any increase will likely prove temporary. The central bank isn’t planning to use its inflation-fighting tool of higher interest rates anytime soon.\nThe idea behind the Fed’s new thinking is that allowing the economy to run a bit hotter -- and inflation to creep a bit higher -- will actually help to reduce income inequalities, because it will encourage a strong jobs market that benefits low-paid Americans the most. There’s some evidence that this is already happening in the restaurant, hotel and other service industries.\nMeanwhile, the Biden administration says it will push U.S. statisticians to produce more detailed data that breaks down economic outcomes for different racial or income groups.\nThat initiative could have consequences for people whose incomes are tied to measures of inflation -- like recipients of Social Security or food stamps. They can get squeezed when those gauges fail to accurately capture changes in the cost of living. There’s been talk in the past, for example, of pegging Social Security to an index that specifically measures the inflation experienced by older people.\n‘Uneven Effects’\nThe distributional questions raised by higher prices aren’t just a U.S. phenomenon.\nA United Nations gauge of global food costs rose for a ninth straight month in February, the longest run of increases since 2008 when the world faced the first of two food crises within a few years.\n“The food price story and inflation story are important to the issue of equality,” says Carmen Reinhart, the World Bank’s chief economist. “It’s a shock that has very uneven effects.”\nThe problem of K-shaped inflation predates the pandemic and may have deep-rooted causes, according to Xavier Jaravel, an assistant professor at the London School of Economics.\nHis research has shown that a key reason why richer people experience lower rates of inflation is that there’s more competition among producers for their dollars –- leading to higher levels of innovation in the kind of goods and services bought by the wealthy, which helps keep prices down.\n“One canhopethat statistical agencies around the world will soon adopt new data sources and priceindicesto better measure inflation inequality,” Jaravel wrote in a recent paper, “and that economists will pay more attention to the distributional effects of prices.”","news_type":1},"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"}],"hasMoreComments":true,"newsSizeData":{"likeSize":14,"commentSize":3,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false}}