Wage increases are settling at a historically high rate but aren’t keeping up with inflation, which has accelerated this year.
The result is many workers are receiving big raises—and may still be struggling to pay for more expensive gasoline, groceries and rent. Strong wage growth can exacerbate inflationary pressures if employers decide to increase prices to offset raises. However, economists said the latest readings could be a sign that such pressures are starting to ease.
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