American consumers are grappling with the hottest inflation in a generation, and some parts of the country are seeing steeper price increases than others.
But the increase was starkest in the region that encompasses Montana, Wyoming, Idaho, Nevada, Utah, Colorado, Arizona and New Mexico, withOther states that are experiencing red-hot inflation are North Dakota, South Dakota, Nebraska, Kansas, Minnesota and Iowa, with prices up 7.7% from last year. It was trailed by a 7.
By comparison, prices in the mid-Atlantic – New York, New Jersey and Pennsylvania – were far lower, climbing 5.8% in December from the year-ago period. The New England region experienced the next-lowest rates with 6.2% inflation. Rising inflation is eating away at strong gains and wages and salaries that American workers have seen in recent months: Real average hourly earnings rose just 0.1% in December, as the 0.5% inflation increase eroded the 0.6% total wage gain, according to the Labor Department. On an annual basis, real earnings actually declined 2.4%.The inflation spike has been bad news for
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