defense policies are working purely it remains to be seen with the consequences are. we have already seen things start to break. we have seen the regional banks begin to break, commercial real estate looks to be fragile, but my main take away from this inflation report is that if you are wealthy, if you are a higher income individual, inflation is under control. because when they go to the grocery store, they might follow some of those healthier diets that we talk about where they are buying meat, poultry, seafood, fresh produce, you throw all of that stuff in a grocery cart, that is up maybe 2% year-over-year, but for most of america, the americans living paycheck to paycheck, when they go to the grocery store and have to stretch that budget, they are buying cereal, bread, pasta, frozen fruits and veggies, processed foods, those are of double digits year-over-year so for the wealthy, inflation appears to be under control but for most of the americans out there we ve still got a long w
so many people on fixed incomes and retirees don t have as much and food costs so much it says there are a lot of people who are no longer buying meat because it s so expensive and instead eating beans or cheese. have you noticed with you and your friends that suddenly when you go to the grocery store you are looking at every price because you wonder whether or not you can afford it? absolutely, these are times that everything seems to be trouble or triple. steve: steve you want to be more active so what is happening to your bottom line? my bottom line is that i was getting approximately 200 a month, which barely, believe it or not, did not cover it.
she is applying for jobs that don t require a long commute and that would allow her to still look after her 82-year-old mother at home. i still have to be strong enough for my mom, my girls, and the person that i take care of. and with us now from the white house, cecilia rau. thank you for taking the time. we heard from anna duran who is collecting plastic, no longer buying meat, just eating tuna to make ends meet and she is not the only one. talk to her and millions of americans waiting to feel relief. realistically when is that relief coming? there is no question that inflation is the biggest challenge in our economy right now despite the very strong labor market and other signs that there is continued economic activity and some underlying strength as we go into the headwinds posed by the pandemic
we re in a remarkable place, but not for good reasons. and as you know, you watch money. you watch the economics of it all, inflation, you know. people can t go to the grocery store and feel good about buying bacon. buying meat. buying bread. finding formula for babies. and also we re hearing that women and feminine products are now up in the air again. it s one thing after the other. it s one thing after the other. it is a domino effect. and people are concerned, particularly in this moment, you know, you ve got airlines cancelling flights. you ve got people trying to figure out, can i get to work? gas prices are high. housing costs are high. lumber is high. everything is high. and people are looking for a break. and when the pocketbook is hit, as you know, politics is