Four-dollar gasoline and five-dollar hamburger are putting a squeeze on Tanya Byron’s pocketbook. But it’s the rent that really stings.
“It’s pretty depressing,” says the Jacksonville, Fla., travel agent, sitting in the tiny dining room that doubles as her home office. “I make $42,000 a year, and I can barely afford a one-bedroom apartment.”
The rising costs of housing, food and other necessities are big drivers of inflation, and they fall especially hard on lower-income Americans, posing a growing challenge for President Biden and the nation’s top economic policymakers.
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