Inflation Hurts

Inflation hurts a large part of the population whose incomes do not rise fast enough to make up for the rise in prices. Typical are the following:

A Toronto housewife whose husband makes “good money” says of her three children: “They are well-fed, but they’re growing up scarcely knowing what beef is.” A Rio de Janeiro taxi driver, his wife (who works as a secretary) and their children have to share an apartment with a relative because, as the husband states, “we could not rent our own apartment and still eat.” In London a retired mailman says that he and his wife “keep ahead of the bills by dipping into our savings.” He adds: “I’ve given up buying clothes, except shoes.” When they went on a brief vacation, he said: “We skipped lunches and had only one proper meal a day.”

A Rome postal clerk says the “disastrous” rise of prices has forced him to take an extra job to support his family. A London housewife who was forced to do outside work fifteen hours a week now says she works twenty hours a week, and her husband works all the overtime he can. She states: “But you can’t call that getting ahead when all the extra we earn goes out as fast as we bring it in. I think it’s wicked.” Yes, inflation hurts. It takes a toll of those who cannot increase their incomes fast enough to offset rising prices.