Despite the fact that wages are rising, inflation is outpacing wage growth.
Rising prices mean Americans can buy less even with higher wages
Anyone who has made a purchase lately is likely well aware of the fact that most things cost more money now. Gas and food prices, in particular, have been soaring, and bothhave also increased dramatically. And the price of both new and used cars have hit record highs. The Employment Cost Index fell in the most recent quarter, suggesting that the trend of price increases outpacing wage growth is continuing or even accelerating.
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