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Inflation and Black People

According to the NY Fed, "during 2019 Asian Americans experienced slightly more inflation than the national average, while Black and Hispanic Americans experienced slightly less. With the COVID-19 recession..inflation for Black and Hispanic Americans fell, while inflation for Asian Americans rose relative to the national average, as prices for housing and apparel grew more slowly than the national average, while prices for food grew faster." By March 2021, Black and Hispanics Americans experienced higher inflation than average, Asians lower.

Much of the decline in Asian inflation after March, 2021 was due to a lack of sensitivity to rent increases. This, in turn, was due to higher Asian American real estate ownership. The fact that Asians may be less subject to redlining may play a role here. Unfortunately, this may also be a factor in elevated levels of unjustified, unhelpful anti-Asian behavior. This implies that lower anti-Black discrimination in mortgage lending will lead to lower levels of animosity between racial groups. 

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