The chart of the week looks at the difference between price and wage inflation since 2019. The pessimistic side of all of us likely notices the price increases we have seen, and they have been substantial, but wage increases have been substantial, as well. Wage increases outpaced inflation, as measured by the Consumer Price Index, from 2019 through early 2021. In early 2021, we saw CPI start to take off and over take wage increases. The chart is noteworthy as wage increases have remained fairly constant, while prices have come down, with wage inflation taking over price inflation for the first time in 2+ years. This is great news for all of us and the economy asĀ  savings from the COVID-19 pandemic continue to dwindle and the economy continues to slow.

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