Average wages rose 3.2% in the past year, according to the Labor Department's July report. That's slower than the growth reported for June, and also means that wages are once again not keeping pace with inflation.
https://www.npr.org/2026/08/14/nx-s1-5929422/inflation-spending-economy-groceries-gas
In a separate release, Commerce reported that prices grew at an annual rate of 3 percent in December, excluding food and energy costs. That's a full percentage point above the Federal Reserve's inflation target.
Friday's double whammy of economic releases ends a string of positive employment and inflation reports that Trump and top White House officials had cited as proof of his agenda's success…
