Americans are all feeling the squeeze of higher prices on fuel, food and other necessities due to sky-rocketing inflation, but the wealthiest earners seem to deal with less of the pressure than their lower-income counterparts, according to a new study out of the University of Pennsylvania’s Wharton School of Business.

According to the study, with inflation raising prices and government aid like the child tax credit and stimulus checks ending, as well as a pause on student loan payments set to expire, the lowest-income earners are feeling the pressure far more—with their living costs far out-pacing any new wage growth they faced in 2021.

The study found that while those earning under $20,000 saw a $578.00 change in annual household earnings, they also saw a $1,837 change in living costs. Those earning $20,000-$39,999 and $40,000-$59,999 also felt the pinch, with the latter group also seeing the cost of living out-pacing new income growth, with changes of $2,712 and $2,193 respectively, while the middle group nearly broke even, with a $2,276 income increase but $2,218 cost of living change.

Wealthier income brackets, while still feeling the force of inflation, are still faring much better, with income outpacing the cost of living steadily. Those in the $60,000-$99,999 income bracket saw wage increases of $3,890 and cost of living increases of $3,365, while those in the $100,000-$149,000 bracket saw wage increases of $5,571 and cost of living increases of $3,940.

Those making $150,000 and over are still faring the best. With wage increases of $7,431, their change in living costs only reached $5,483.00.

The study findings show how much of an impact government aid likely had on the lives of the poorest Americans during the pandemic, and highlights why many are still hopeful for more stimulus checks on the horizon. However, despite the desire for them, the government still seems unlikely to approve another round of federal payments.

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