Yesterday's April Inflation Report unveiled the obvious - Inflation has risen to 3.8% YOY, according to the latest data from the Labor Department, outpacing wage growth of 3.6%. Consumers are struggling to keep up with higher prices on gas and groceries due to the ongoing Iran war, and those in lower income brackets are particularly feeling the strain. Economists expect the situation to persist, with inflation projected to peak during the summer and remain elevated through 2026.
Abridged: LinkedIn News
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