Used cars

Inflation hurts low income people the most because most of their expenditures are for necessities like food and shelter. If the family income was $50,000 last year that is worth $46,000 this year. If you are retired and had a $100,000 CD it is only worth $92,000 this year. Shortages caused by manufacturing unable to keep up with demand along with supply chain problems have cause prices to rise. One strange thing is the price of used cars which for the first time in history are rising. The average used car costs $7,000 more this year than last year. The old adage that you lose a third of the value of your new car when you drive off the lot is no longer applicable.