Fox Business: Inflation rose more than expected in April, running near a 40-year
high amid supply chain constraints, Russia’s war in Ukraine and strong consumer
demand. The Labor Department said Wednesday that the consumer price index, a
broad measure of the price for everyday goods including gasoline, groceries and
rents, rose 8.3% in April from a year ago, slightly below the 8.5%
year-over-year surge recorded in March. Prices jumped 0.3% in the one-month
period from March (Fox Business).
From CNBC: The price gains also meant that workers continued to lose ground. Real wages adjusted for inflation decreased 0.1% on the month despite a nominal increase of 0.3% in average hourly earnings. Over the past year, real earnings have dropped 2.6% even though average hourly earnings are up 5.5% (CNBC).
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