Inflation jumped to 3.8%, and your paycheck just fell behind
Wages just turned negative as prices outpace paychecks nationwide.
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Fed's inflation gauge hits 3.8% in April as markets brace for a rate hike
The PCE inflation index surged to 3.8% in April, its highest since May 2023, as the Iran war disrupts supply chains. Markets now price in possible Fed rate hikes later this year.
Consumer prices rose 3.8% annually in April, the highest since May 2023
The consumer price index was expected to increase by 3.7% annually in April, according to the Dow Jones consensus.