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Teresa Ghilarducci

Frugality Goes Only So Far in Dealing With Inflation

Budgeting tips can help somewhat, but Americans really need raises.

Should get a raise.

Should get a raise.

Photographer: Luke Sharrett/Bloomberg via Getty Images

I have spent most of my career communicating about personal finance, income insecurity and embedded inequality.

Given the viral reaction on social media, it’s clear that a recent column of mine focused on specific ways households could combat rising prices did not fully convey my thinking on two of those broader issues. In trying to offer suggestions for people coping with inflation, I left readers with a “let them eat cake” (or lentils) impression, for which I and Bloomberg Opinion were lampooned (and worse).