Inflation’s Wild Ride | Inflation has surged and moderated since the pandemic. As the presidential election approaches, politicians are focused on who is to blame. How did we get here? (www.nytimes.com)

submitted 1 week ago by silence7@slrpnk.net to c/usa@lemmy.ml

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Price increases have slowed, but getting used to new price levels could take time for consumers.

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[-] silence7@slrpnk.net 1 points 1 week ago

Yes, the federal minimum wage hasn't risen; that's static and requires an act of congress to change. What happened is that the pandemic also gave a lot of people negotiating power, so the wages most people earn went up more than prices.

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this post was submitted on 27 Jun 2024

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