Rising U.S. Consumer Prices Are Eroding Wage Gains

Rising U.S. Consumer Prices Are Eroding Wage Gains

WASHINGTON—Rising residing prices are consuming up nearly all of Americans’ wage good points, clouding the financial system’s long-term outlook.

Consumer costs—on a regular basis bills resembling groceries and dental care—rose zero.2% in July, the Labor Department mentioned Friday. Core costs, which strip out meals and vitality prices, additionally elevated zero.2%. Higher housing prices—reflecting lease and mortgage funds—accounted for many of final month’s enhance.

The…

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