Inflationary Income

While there’s talk of substantial wage growth, some perspective please. Since monthly inflation, as measured by the CPI, began visibly rising in 2/21, it’s rise has exceeded the monthly rise in average hourly earnings every month! This means real wages are steadily declining! Moreover, after peaking at a M-o-M rise of 0.67% in April, average hourly earnings growth slipped to 0.46% in May, 0.40% in June and 0.36% in July.