Rising Gas Prices Disproportionately Affect Lower-Income Households, Study Finds
A study by the Federal Reserve of New York reveals that lower-income households are more adversely affected by rising gas prices compared to higher-income groups. During a recent spike in energy prices, households earning less than $40,000 annually increased their gas spending by only 12%, while higher-income households increased spending by 19%. This disparity highlights a K-shaped economic recovery, where wealthier individuals benefit more from economic gains, while lower-income groups face greater financial strain. 
