An Update About How Inflation Has Affected Households at Different Income Levels Since 2019

Congressional Budget Office

No 60166, Reports from Congressional Budget Office

Abstract: CBO updates its prior work about how inflation and changes in income have affected households at different income levels since 2019. The agency’s analysis focuses on households’ 2019 consumption bundles—that is, baskets of goods and services representing consumption in a typical year before the coronavirus pandemic—to compare households’ purchasing power in 2019 with that in 2023. CBO found that, on average, households’ purchasing power based on those consumption bundles increased over the period but that the effects of inflation varied by income group.

JEL-codes: E20 E21 E31 (search for similar items in EconPapers)
Date: 2024-05-14
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