Inflation is so high that it's erasing all wage gains (post by Heather Long)

Inflation: 4.2% in May for the past year
Wage growth: 3.4% in May for the past year.

Americans are getting squeezed financially. This isn't just "bad vibes" about the economy. There is real pain, especially for middle-class olds. It's tough because so many basic items are seeing sizable price increases: gas, electricity, food, medical care.

https://x.com/byHeatherLong/status/2064689032580198480?s=20