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Wages lag pace of inflation

from The Washington Post via Pittsburgh Tribune-Review

Inflation is back, with higher prices for food and fuel hammering American consumers, and this time it really hurts. It's not just that prices are rising; it's that wages aren't. Previous bouts of inflation usually have meant a wage-price spiral, as pay and prices chase each other upward. But now, paychecks are falling farther and farther behind. In the past three months, consumer prices have been rising at a 5.7 percent annual rate while average weekly wages have barely budged, increasing at only a 1.3 percent annual rate. more

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