Consumers face a new -- but familiar -- economic worry: Inflation [CBS News]
IHS Markit Ltd. Common Shares (INFO)
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Source: CBS News
Consumers face a new -- but familiar -- economic worry: Inflation A swift and sudden price jump for their favorite products may be a foreign experience for many younger consumers. After all, for years after the Great Recession inflation hovered below 2 percent as the U.S. economy slowly climbed out of its trough. But inflation is picking up, while economists say that factors including rising oil costs and the Trump administration's escalating trade war with China may put upward pressure on prices later this year. Compounding those concerns: Employees wages haven't kept up with inflation over the past decade. As a result, the typical worker has suffered a 9.5 percent decline in real, or inflation-adjusted, wages over that time period, according to data from PayScale. For many Americans, that could start to bite just as the vital holiday shopping season gets underway. "The average person isn't paying attention to it because it hasn't been a burden to them recently," said Katie Bardaro,
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