Americans Need $11,400 More a Year to Keep Pace with Inflation That Outstrips Wage Gains
-
Americans need an extra $11,400 per year to afford the same quality of life as in 2021, with Colorado households requiring nearly $15,000 more.
-
Inflation hit a 40-year high of 9.1% in June 2022, driving up costs for everyday essentials.
-
Price increases since January 2021 include 17% for overall inflation and just 13.6% in hourly wages, squeezing household budgets.
-
Despite cooling inflation rates, prices continue rising more slowly rather than declining, keeping financial pressure high.
-
Food, shelter, cereals and bakery items saw notable price hikes in the past year, while gasoline costs have fallen over the last 10 weeks.