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“Meaning is your pay keeping up with prices? Inflations been in the three and a half percent range, depending on the measure. And if your raise every year isn't at least that, then in general, you're not keeping up with what things cost.”From the transcript
Your 60-second money minute. Today’s topic: Prices Higher Than Pay Raises
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Your Money Minute — Prices Higher Than Pay Raises 9/17/26. Machine-transcribed; use the interactive transcript above to jump the player to any line.
with a CNBC your money minute. I'm Jessica Edinger. Are you underwater with your salary? Meaning is your pay keeping up with prices? Inflations been in the three and a half percent range, depending on the measure. And if your raise every year isn't at least that, then in general, you're not keeping up with what things cost. Hourly earnings growth has slowed significantly. Back in 2022, obviously pandemic, it was almost 6% now. It's at about 3%. That CNBC's Frank Holland, and here's Moody's analytics chief economist, Mark Zandy on CNBC. Wage growth continues to decelerate to the steady deceleration. It's now below the rate of inflation. So people's purchasing power is declining declining purchasing power. This could drag on a new Mercer quick pulse survey on compensation planning at a thousand organizations has reported in USA today found that the average pay raise for workers in the US next year will be about 3.2% with inflation higher than that. That's not enough to keep up.
When inflation swallows your pay bump, it just makes it harder for Americans to get ahead. You can always find the latest on inflation and the economy at CNBC.com. I'm Jessica Erringer, CNBC. Do you know what happens when you link your grub hub to your Amazon Prime? You get zero dollar delivery fees on all eligible orders. Summing the food. Terms and additional fees apply visit amazon.com slash grub hub for details.
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