Inflation vs. wages: How rising prices stack up against growing pay

On average, wages have risen faster than prices since the pandemic, and lower-paid workers have seen the steepest gains despite facing the highest cost burdens.

It's a key question on voters' minds heading into Thursday night's presidential debate: How far does my dollar go in 2024?

The short answer: further than they might think.

Since February 2020, the Consumer Price Index has climbed a cumulative 20.8%, according to Bureau of Labor Statistics data. Over that same period, average hourly earnings rose 22.3%.

The chart below shows the result: Inflation-adjusted hourly earnings (the yellow line) have increased 1.5% since December 2019, indicating a net gain for workers' average spending power.

https://www.nbcnews.com/business/economy/inflation-higher-biden-rising-pay-makes-rcna158569

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