Baby boomers are sitting pretty – as millennials foot the bill for high inflation

Just like during the pandemic, it is the young-to-middle aged who must carry the heaviest load for the good of the nation

It doesn’t matter how many times I hold my phone against the card reader at the till and wait for the contactless “ping!”. Every time, my eyes still widen, and I baulk at the checkout total for what always feels like a rather austere basket of goods, relative to the cash I’m handing over. Nearly two years into this cost of living squeeze, each realisation that we are not as rich as we were still feels painful.

Image credit: Getty Images.

With unavoidable expenses like food and energy at its centre, this crisis seems to be a shared cultural experience. Something you can bond over with others. That coffee was how much! Your big shop came to what!

But the truth is, we’re not all in this together.

Rising interest rates affect two groups more than any other: homeowners with a mortgage, and renters. This is the very reason central banks are hiking rates…

To read this full article on how the pain of interest rate hikes is unequally distributed, please visit i News using the link here: https://inews.co.uk/opinion/baby-boomers-sitting-pretty-millennials-foot-the-bill-high-inflation-2581286