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Opinion
Andrea Felsted

Inflation Is Even Pinching the Middle Class Now

The notion that rising prices is mostly hurting lower-income households no longer rings true. Even luxury retailers are at risk.

Pinched.

Pinched.

Photographer: ROBYN BECK/AFP

Even amid hopes that we are at “peak” inflation, it’s clear that consumers on both sides of the Atlantic are buckling under the weight of higher prices.

Until recently, most of the pain has been concentrated among lower-income households. But lately the pressure has been spreading to more affluent shoppers too.