Crime and inflation deal devastating one-two blow to inner city communities

Residents of inner cities are coping with high rates of crime that have continued for two years and skyrocketing inflation that have dealt devastating blows to them.

He said that many "ghetto stores" charge higher prices for a bevy of reasons, including "crime, shoplifting, vandalism and riots have raised the costs, both directly and by causing insurance rates and the costs of security to be higher."

Sowell's words have proven true in recent years. Commercial insurance rose in 2021 following the George Floyd protests and riots of the summer prior, which marked "the first civil disorder catastrophe event to exceed $1 billion in losses to the insurance industry," according to the World Economic Forum. Battered stores in cities have taken extra security measures and even cut operating hours to help curb rampant shoplifting.