Why Inflation Doesn’t Affect Us All the Same

The Daily

The New York Times

Daily News, News

4.4 • 102.8K Ratings

🗓️ 12 May 2022

⏱️ 28 minutes

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Summary

Fresh data from the U.S. government on Wednesday showed that inflation was still climbing at a rapid pace, prompting President Biden to say that controlling the rising prices was his “top domestic priority.” But not everybody experiences inflation equally. Why is that? Guest: Ben Casselman, an economics and business reporter for The New York Times.

Transcript

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0:00.0	From the New York Times, I'm Michael Babaro.
0:04.0	This is the Daily.
0:06.0	The numbers please, and here they are, our consumer price index for the month of April
0:16.3	headline of 8.3 percent.
0:20.2	On Wednesday, new numbers from the U.S. government showed that inflation is still climbing at a rapid
0:27.3	pace.
0:28.3	I gave you some context, guys.
0:30.3	A year ago, if you go back to this headline number, we're 8.3 percent for April, a year
0:34.7	ago, we were at 4.2 percent.
0:36.9	We have doubled these numbers over the last year.
0:40.9	And President Biden has now declared war on rising consumer prices.
0:46.8	I want every American to know that I'm taking inflation very seriously and it's my top
0:53.2	domestic priority.
0:55.1	Today, my colleague, economics reporter Ben Castleman, on how inflation is likely to actually
1:04.1	affect you depending on where you are in life.
1:20.5	This Thursday, May 12th.
1:27.5	Well, Ben, welcome back to the show.
1:31.6	Thanks for being in the studio.
1:32.6	Thanks for coming in the office.
1:34.7	We appreciate it.
1:35.7	The pizza may have played a role.
1:37.1	It's Wednesday, it's a free pizza day.
	...

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