New York Fed Study Reveals Disparate Impact of Rising Gas Prices on Lower-Income Households
A New York Fed study found that lower-income households are reducing gas consumption more significantly in response to rising prices compared to higher-income households. During the March 2026 energy price spike, low-income households increased gas spending by only 12%, while high-income households increased spending by 19%. This highlights a K-shaped consumption pattern, where economic impacts vary widely across income levels.
Topics: consumer spending gas prices income inequality inflation K-shaped economy