Here's how inflation has ratcheted up the cost of basics like housing and food for families across the US

Thu, 06/27/2024 - 05:52

Inflation has hit essentials like food and housing harder than the broader Consumer Price Index.
Justin Sullivan/Getty Images

Daily essentials are inflating faster than broad inflation indexes, making life harder for many Americans.
The ALICE Essentials Index shows a 7.3% annual increase in basic costs from 2021 to 2023.
Rising costs are outpacing wage growth, affecting the West and Southeast the most.

It's no secret that Americans have been feeling the pinch of inflation everywhere they go — but daily essentials are only getting pricier. It could be making workers feel even worse.