April Inflation Worse Than Expected

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Inflation grew by 8.3%  in April – this is higher than what was expected.

From Breitbart:

Inflation retreated in April but remained higher than forecast.

The Department of Labor said Wednesday that the Consumer Price Index rose 8.3 percent compared with a year ago. Prices were up 0.3 percent compared with the prior month.

Workers are also feeling it. Real Wage growth continues to drop.

From CNBC:

The price gains also meant that workers continued to lose ground. Real wages adjusted for inflation decreased 0.1% on the month despite a nominal increase of 0.3% in average hourly earnings. Over the past year, real earnings have dropped 2.6% even though average hourly earnings are up 5.5%.