Why do we dislike inflation?
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Most Americans strongly dislike inflation and do not believe wage increases come close to offsetting price increases, suggests a paper to be discussed at the Brookings Papers on Economic Activity (BPEA) conference on March 28. According to the paper titled 'Why Do We Dislike Inflation?' by Stefanie Stantcheva of Harvard University, 80% of respondents to recent surveys believe prices systematically increase faster than wages. Inflation, as measured by the Consumer Price Index, was 3.4% in 2023 while average hourly wages rose 4.1%. Stantcheva conducted two surveys of U.S. residents between December 2023 and January 2024, finding that respondents of all political leanings ranked inflation as the most important economic and social issue. Republicans blamed President Biden for inflation, while Democrats were nearly equally as likely to blame President Biden as corporate greed.

#Inflation #Wages #Survey #EconomicIssues #PoliticalAffiliation

https://www.brookings.edu/articles/why-do-we-dislike-inflation/