During the inflationary period of 2021-22, younger people and people without a college degree faced the highest inflation, with steadily widening gaps relative to the overall average between early 2021 and June 2022, followed by a rapid narrowing of the gaps and a reversal of some of them by December 2022. This pattern arises primarily from a greater share of the expenditures of younger people and people without a college degree being devoted to transportation—particularly used cars and motor fuel—which led the 2021 inflationary episode but has since converged to general inflation. As of December 2022, the disparity has reversed, with no-college households experiencing lower inflation over the last twelve months than college households did. The reversal of the earlier rise in inflation disparities can be explained by 1) transportation inflation, which affects no-college households relatively more, declining back to the headline CPI, and 2) housing inflation, which affects college households relatively more, rising faster than headline CPI.
- Date Posted:
- January 18, 2023
Some supply chain experts argue that the growth numbers in iPhone “manufacturing” in India are more hype than reality. Although 200M phones were made in India last year, they are not in the same league as Apple’s products. The most popular models typically sell for $250 or less, while average iPhones cost nearly $1,000 and require more sophisticated automation and labor intensity. Woo-Jin Ho, hardware analyst at Bloomberg Intelligence, projects that Apple will shift just 10% of iPhone production outside of China by 2030, or at most 20% if it moves aggressively.