Inflationary pressures are the worst in four decades, and while everyone’s feeling the squeeze it’s those without discretionary spending that are hardest hit, say Brian Doyle of Doyle Salewski.
That’s because food, transportation and accommodation combine to add up to the lions’ share of their basic expenses.
It’s scant consolation to consider things are worse for residents of the United Kingdom or Germany.
The economy was in a downward trend before the Russian invasion of Ukraine, but the overseas conflict is a factor in our domestic troubles.
Doyle says the declining value of assets is likely to bring on “disinflation” which can reduce some of the economic pressure.
In coming to grips with the balance sheet, employers who can’t afford to increase wages to their workers may ben on the cusp of vulnerability themselves.
Doyle says the identical pressures he’s outlined affect all of us differently.
By Rick Stow
