UHND.com - Notre Dame Football, Basketball, & Recruiting

...from the concluding paragraph of the attached report...
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The thing that we find hard to wrap our head around is that the rich spend only 79 percent of their after-income-tax resources on items included in the CPI-U, while the poor spend 95 percent. So, yes, the inflation experience of high- and low-income households is not that different on the items that they purchase, but the low-income households spend virtually all their resources on inflation-affected items while the high-income spend a significantly smaller share on those items. Therefore, one could argue that at least on the expenditure side, the wealthy are much less affected than the low income by current high inflation. Of course, in a lifecycle sense, savings are exposed to inflation eventually when they are spent. But savers have time to shift their consumption patterns in preparation for these eventual impacts, an advantage unavailable to those forced to spend today.
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This inability to think broadly and clearly is getting to be a trend with you...


Link: https://crr.bc.edu/are-the-rich-or-poor-hurt-more-by-inflation/