Millennials just don't care about inflation as much as boomers do
Baby boomers are sounding the alarm on inflation, bracing for the fastest price growth since the 1980s and fearing for their life savings.The Consumer Price Index — a popular measure of broad price growth —, continuing a streak of decade-high inflation. And Americans are feeling that heat. Nearly nine in 10 adults in the US have experienced price hikes this year, and two-thirds said those hikes have hurt their finances, according to a survey conducted by Bankrate.com.
Conversely, the country's youngest adults are far less frightened. While 84% of millennials said they ran into price hikes this year, and 75% of Gen Zers did, these higher prices only hurt 55% of millennials' finances and 54% of Gen Zers', according to the survey. Worrying about inflation can also keep the country from addressing a bevy of arguably more pressing economic issues. At a time when mass unemployment, income inequality, student debt, and affordable housing plague the US economy, inflation fearmongering can take the air out of much-needed work. Even theBoomers are also painfully familiar with how strong inflation can decimate an economy.
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