How are higher prices affecting consumers? | Smart Change: Personal Finance | – Sioux City Journal

The strong job market is boosting workers’ pay, though not enough to offset higher prices. The Labor Department says that after accounting for higher consumer prices, hourly earnings for private-sector employees fell 2.7% last month from a year earlier, the 12th straight such drop.

There are exceptions: After-inflation wages rose 8% for hotel workers and 4% for restaurant and bar employees in March from a year earlier.

Partisan politics, in the meantime, is influencing the way Americans view the inflation threat. With a Democrat in the White House, Republicans are far more likely than Democrats to say that inflation is having a negative effect on their personal finances, according to surveys of consumer sentiment conducted by the University of Michigan.


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