Inflation. Whether you know much about it or not, it hits us all in the pocketbook. It's at its highest rate since 1982. But what is driving this 40 year high? Surging costs for food, gas and housing have caused consumer inflation to rise 7.9 percent over the past year. USA Today's James Brown and University of Texas at Austin Macroeconomist Julia Coronado discuss how inflation works, how money is printed, rising prices, the car market, income inequality, wages, and what the media gets wrong about inflation in part one of this two part series.

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Episode Transcript available here

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