Wages have outpaced inflation since 2020 but many consumers still feel burdened by prices

Wed, 07/24/2024 - 05:57

A photo shows a woman in a grocery store in the fruit aisle. — Over a third of American workers say they live paycheck to paycheck.
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Since 2020, wages have outpaced inflation for the majority of American workers.
Average wages for most US workers are up roughly 25.7% since 2020, while inflation is up about 20.9%.
Despite strong wage growth, some consumers still feel burdened by high prices and housing costs.

American consumers have been frustrated by high prices over past years, but there's some good news: wages have outpaced inflation since the start of the COVID-19 pandemic.