Heritage Basis’s EJ Antoni shared this graph of the CPI degree:
Apart from together with the pandemic period value degree, I considered what occurred to actual wages. These have risen quicker put up 2022M07.
Determine 1: CPI deflated common hourly earnings (black), and 2017M01-2019M12 pattern (crimson), and 2022M07-2024M12 pattern (mild blue), in 2023$. Stochastic traits estimated on logged values. NBER outlined peak-to-trough recession dates shaded grey. Supply: BLS through FRED, NBER, and writer’s calculations.
