Millennials are confronting inflation for the first time.

Millennials have spent much of their lives enduring economic calamity. Many were children when the dot-com bubble burst; graduated from high school in the late 2000s, when the real estate market crumbled; and had to compete with a huge generation of baby boomers in an anemic postcrisis job market before the coronavirus brought the global economy to its knees last year.

But there was one powerful phenomenon that millennials, the largest generation in the United States, had never felt, at least as adults: rapid inflation.

Some of the most extreme price gains have come in categories where millennials and their younger counterparts are more likely to spend money than older generations. READ THE ARTICLE →