Prices are up on everything from groceries, to rent, to gas, and consumer price inflation hit a new 40-year high in March: Up 8.5% over a year ago.
This increase impacts everyone across the economic spectrum, but inflation poses a particular hardship for low-income families. And while the Biden administration has announced new steps to bring down gas prices and other visible signs of inflation, there's mounting political pressure to do more during this midterm election year.
NPR Congressional Correspondent Kelsey Snell and Chief Economics Correspondent Scott Horsley break down the stakes for those hit hardest by inflation and for the government.
Scott Horsley also speaks to economists who explain why they believe the U.S. might be in another recession soon.
Email us at considerthis@npr.org.
