Working households struggle as wages don’t keep up

San José, CA – On Friday, June 10, the Bureau of Labor Statistics reported that prices for workers’ families, the so-called Consumer Price Index-Wage or CPI-W rose by 9.3% as compared to prices a year ago. This rate of inflation is near a 40-year high, only exceeded by the 9.4% increase in March. The last time that prices rose so quickly was in November of 1981.

San José, CA – Gas stations, grocery stores and car dealers are not the only places people are facing sticker shock, as anyone looking to rent can tell you. Prices to rent an apartment are up around 20% over the last year.

San José, CA – On Wednesday, January 12 the U.S. Bureau of Labor Statistics reported that prices of consumer goods rose 7% in 2021. This is the highest rate of inflation in 40 years. With workers’ wages only up by 4.7% last year, the purchasing power of workers’ earnings fell by more than 2%.