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There is a lot of government spending. The expectation that inflation will rise often leads to a rise in inflation. Workers and firms will increase their prices to 'catch up' to inflation. There is excessive monetary growth, when there is too much money in the system chasing too few goods. The 'price' of a good will thus increase.
The term "wage-price spiral" appeared in a 1937 New York Times article about the Little Steel strike. In the 1970s, US President Richard Nixon attempted to break what he saw as a "spiral" of prices and costs, by imposing a price freeze, with little effect. [2] Some sources distinguish between wage-price spirals and price-wage spirals. [3]
Some economists argue that such a change in the price level can raise the inflation rate over longer periods, due to adaptive expectations and the price/wage spiral, so that a supply shock can have persistent effects. [3] The existence of cost-push inflation is disputed.
Payday lenders, which typically charge high interest rates, are more common in lower-income neighborhoods. A cost of poverty, also known as a ghetto tax, [1] a poverty premium, [2] a cost of being poor, or the poor pay more, [3] is the phenomenon of people with lower incomes, particularly those living in low-income areas, incurring higher expenses, paying more not only in terms of money, but ...
Core price indices: because food and oil prices can change quickly due to changes in supply and demand conditions in the food and oil markets, it can be difficult to detect the long run trend in price levels when those prices are included.
In its annual report on the well-being of Americans, the Census Bureau reported an unprecedented jump in poverty rates, including child poverty. The portion of Americans living below the poverty ...
Comparing data from Distribution of Household Income reports and the Official Poverty Measure, the CBO found that Americans living below the poverty threshold in 2021 received about 25% of their ...
The poverty rate among children declined dramatically in 2021 amid an expanded child tax credit that President Biden hopes to bring back.