Wharton Study: Bidenflation Will Cost Families $3,500 This Year, Low-Incomes Hardest Hit

Bidenflation will cost families an additional $3,500 this year, impacting low-income families the hardest, a study released Wednesday showed.

According to the University of Pennsylvania’s Wharton School’s budget model, Americans on average will have to spend $3,500 more in 2021 to sustain their consumption of years past in 2019 and 2020.

The study also suggests low-income families will be disproportionally impacted. The study estimated lower-income families will have to spend seven percent more money to maintain their previous consumption patterns, while higher-income families will only have to spend six percent more.

“Lower-income groups spent relatively more on food, energy, and shelter, while higher-income groups spent relatively more on other commodities and services,” the study states.
December is an expensive month. by Visual Stories || Micheile is licensed under Unsplash unsplash.com

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