CNBC
US · 1 hrs ago
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Surging gas prices are hitting lower income households harder, New York Fed study shows
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Accuracy 78/100
Partisan intensity 25/100
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Centre / Neutral ✓ Fair headline
A New York Federal Reserve study demonstrates that rising gas prices disproportionately affect lower-income households, which respond by reducing their overall spending rather than maintaining consumption levels.
Surging gas prices are hitting lower income households harder, New York Fed study shows
Lower-income consumers are compensating for higher gas prices by buying less.
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