From shopping for groceries to dining out, Americans’ wallets took another hit as inflation rose for the seventeenth consecutive month in April. The silver lining? That undeniable data may be an advantage in upcoming salary negotiations.
As consumer prices soar — with energy costs up 30.3% and food prices up nearly 10% in the last year, according to the Bureau of Labor and Statistics — employers are also feeling the heat. According to BLS’ quarterly Employment Cost Index, wages and salaries increased 5% for the 12-month period ending in March 2022, and the cost of benefits increased 4.1% for the same period.
