Latinos and Blacks are most affected by the rise in inflation

Latinos and Blacks are impacted more by the rise in inflation, according to the Federal Reserve Bank of New York.

MIAMI — Higher prices for housing, food and gas are hitting Americans throughout the United States, but Latinos and Blacks are affected more by the current rise in inflation than the overall population, according to an analysis from the Federal Reserve Bank of New York.

The growing cost of living has made it difficult for Cynthia Fabian, 48, of Miami, to get back on her feet after she lost her job at a major retailer at the beginning of the pandemic.

She lost her home and then exhausted her savings paying for a motel room. Fabian eventually turned to a shelter and has been working odd jobs.

But high inflation, including soaring rents, has made it impossible for her to move to her own apartment with the $1,500 budget she has.

“I feel frustrated and angry that I haven’t been able to get out of this situation,” Fabian said.

https://www.nbcnews.com/news/latino/latinos-blacks-are-affected-rise-inflation-rcna41503

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