Source: Marketwatch —
The government’s inflation numbers confirmed that the price of literally everything has gone up. But an economist said that there’s one group who actually may have benefitted from rising costs.
Inflation may be at a 41-year high of 9.1% in June, thanks to rising gas and food prices, but asset holders like homeowners who have locked in a fixed-rate mortgage may actually benefit from home price appreciation, Justin Wolfers, an economist at the University of Michigan, tweeted:
“It’s not a good thing for everyone,” Wolfers told MarketWatch in an interview. “The claim is that some people benefit from inflation.”