Every Picture Tells a Story: Inflation Has Uneven Effects

By Chuck Dinerstein, MD, MBA — Mar 22, 2022

There is no doubt that inflation is upon us. The oldsters among us remember the bad old days, 13% mortgages. But as with any economic stress, it falls unevenly. Elaine Schwartz from Econlife shows the problem in two graphs, courtesy of the New York Times.

Image courtesy of mohamed_hassan on Pixabay

Let’s begin with how each generation caught in their phase of the life cycle spends its money.

Not a lot of surprises, the Boomers, having consumed food and alcohol in their youth, as the Gen Z group is now doing, are spending more on health care. That other category hides a lot of discretionary spending. The millennials trying to settle down are spending more on housing as their families expand.

Inflation hits various economic sectors unevenly, and when combined with our spending patterns, this is the result.

Gen Z is getting hammered, and the Millennials are not far behind.

Do take a minute to read the entire article, How Your Generation Spends Its Money

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inflation

Chuck Dinerstein, MD, MBA

Director of Medicine

Charles Dinerstein, MD, MBA, is the Medical Director of the American Council on Science and Health. A vascular surgeon with more than 25 years of clinical experience, he brings a physician's understanding of medical decision-making, an appreciation for scientific uncertainty, and a broader perspective on healthcare economics and policy to his writing.