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Inflation is wiping out wage gains, even in hot economy

Inflation is at a 40-year high. (Tony Dejak/AP)
Inflation is at a 40-year high. (Tony Dejak/AP)

Inflation slowed slightly last month, according to the latest data from the Labor Department, from 8.5% to 8.3%. But prices are still way up compared to last year and few workers are getting an 8% raise to keep pace.

Here & Now‘s Peter O’Dowd speaks with Diane Swonk, chief economist at Grant Thornton LLP.

This article was originally published on WBUR.org.

Copyright 2022 NPR. To see more, visit https://www.npr.org.

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