You Just Got A Big Raise, America!
REUTERS/Lucy Nicholson
We just got fresh data on inflation.
And in a surprise to economists, prices actually fell 0.2% in August. The decline was driven largely by falling energy prices, which you can see in this table in the box that's highlighted.
BLS
What this means is that your dollar went a lot further in August than it did in the month before (you could afford to buy more stuff).
And indeed at the same time that the inflation data came out, we also got the latest info on real wage growth. It turns out real wage growth (that is wages, adjusted for prices) spiked 0.4% in August. Congrats on your raise, America! Don't spend it in one place.
BLS
- I spent $2,000 for 7 nights in a 179-square-foot room on one of the world's largest cruise ships. Take a look inside my cabin.
- Saudi Arabia wants China to help fund its struggling $500 billion Neom megaproject. Investors may not be too excited.
- Colon cancer rates are rising in young people. If you have two symptoms you should get a colonoscopy, a GI oncologist says.
- India's forex reserves sufficient to cover 11 months of projected imports
- ITC plans to open more hotels overseas: CMD Sanjiv Puri
- 7 Indian dishes that are extremely rich in calcium
- 10 dry fruits to avoid in summer- beat the heat just by avoiding these
- 2024 LS polls pegged as costliest ever, expenditure may touch ₹1.35 lakh crore: Expert