Inflation Disparities by Race and Income Narrow

Rajashri Chakrabarti, Dan Garcia and Maxim Pinkovskiy

No 20230118a, Liberty Street Economics from Federal Reserve Bank of New York

Abstract: As inflation has risen to forty-year highs, inflation inequality—disparities in the rates of inflation experienced by different demographic and economic groups– has become an increasingly important concern. In this three-part blog series, we revisit our main finding from June—that inflation inequality has increased across racial and ethnic groups—and provide estimates of differential inflation rates across groups based on income, education, age, and geographic location. We also use an updated methodology for computing inflation disparities by focusing on more disaggregated categories of spending, which corroborates our earlier findings and substantiates our conclusion that inflation inequality is a pronounced feature of the current inflationary episode.

Keywords: inflation; inequality; race; income distribution (search for similar items in EconPapers)
JEL-codes: D63 E31 (search for similar items in EconPapers)
Date: 2023-01-18
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