Richmonders struggle with record high inflation rates at the grocery store and gas pump
High prices and inflation in the U.S. continue to rise at a historic rate, according to a report published by the Labor Department on Thursday. As Russia’s invasion of Ukraine pushes into its third week, global markets grapple with higher costs on energy, food and consumer goods.
“When we think about things like inequality, typically people are thinking about income inequality or wealth inequality or opportunities when it comes to education. Inflation, usually isn’t the number one concern,” Christopher Herrington, an associate professor of economics, said.