Ever feel like your paycheck just doesn’t stretch quite as far as it used to?
You’re not imagining it: Prices have been creeping up, and inflation isn’t done with us yet. According to The Guardian, 75% of Americans report soaring prices. READ MORE
Inflation eroded pay by 1.7% over the past year
High inflation overshadowed a big increase in wages over the past year, amounting to a nearly 2% smaller paycheck for the average worker, according to federal data published Thursday.
Employers have raised wages at about the fastest rate in 15 years, as they compete for talent amid record job openings and quit levels. But consumer prices for goods and services are rising at their fastest annual pace in four decades, eroding those gains for many Americans. READ MORE