Retirees Feeling Pinch Of Soaring Inflation, Spike In Consumer Prices

In the past year, inflation reached the highest rate in four decades. People on fixed incomes, like retirees, are especially feeling it.

Food, rent and gas prices are burning a hole in Americans' wallets as the economy recovers from the pandemic and inflation pushes the cost of everything higher.   

But it's people on fixed incomes, like retirees, who are especially feeling the pinch.

Snehlata Malaviya retired when she turned 70.