When adjusted for inflation, the 2024 federal minimum wage in the United States is over 40 percent lower than the minimum wage in 1970. Although the real dollar minimum wage in 1970 was only 1.60 U.S. dollars, when expressed in nominal 2024 dollars this increases to 13.05 U.S. dollars. This is a significant difference from the federal minimum wage in 2024 of 7.25 U.S. dollars.

Graph and download economic data for Inflation, consumer prices for the United States (FPCPITOTLZGUSA) from 1960 to 2024 about consumer, CPI, inflation, price index, indexes, price, and USA.

Abstract

The CPI is a current social and economic indicator constructed to measure changes over time in the general level of prices of consumer goods and services that households acquire, use, or pay for. The index measures changes in consumer prices over time by measuring the cost of purchasing a fixed basket of consumer goods and services of constant quality and similar characteristics. The products in the basket are selected to be representative of households' expenditure during a specific year. Such an index is called a fixed-basket price index. Changes in the index reflect the effects of price changes on the cost of achieving a constant standard of living.

The South African CPI has three equally important objectives: 1. To measure inflation in the economy so that macroeconomic policy is based on comprehensive and up-to-date price information. 2. To measure changes in the cost of living of South African households to promote equity in measures taken to adjust wages, grants, service agreements and contracts. 3. To provide a deflator for consumer expenditure in the national accounts and other economic data, to compute volume (as opposed to nominal) estimates.

In compiling the South African CPI, Stats SA largely follows the methodology guidelines in the 2020 Consumer Price Index Manual: Concepts and Methods published jointly by the International Monetary Fund, International Labour Organization, Statistical Office of the European Union, United Nations Economic Commission for Europe, Organisation for Economic Co-operation and Development, and World Bank.

Kind of data

Time-Series

In March 2025, inflation amounted to 2.4 percent, while wages grew by 4.3 percent. The inflation rate has not exceeded the rate of wage growth since January 2023. Inflation in 2022 The high rates of inflation in 2022 meant that the real terms value of American wages took a hit. Many Americans report feelings of concern over the economy and a worsening of their financial situation. The inflation situation in the United States is one that was experienced globally in 2022, mainly due to COVID-19 related supply chain constraints and disruption due to the Russian invasion of Ukraine. The monthly inflation rate for the U.S. reached a 40-year high in June 2022 at 9.1 percent, and annual inflation for 2022 reached eight percent. Without appropriate wage increases, Americans will continue to see a decline in their purchasing power. Wages in the U.S. Despite the level of wage growth reaching 6.7 percent in the summer of 2022, it has not been enough to curb the impact of even higher inflation rates. The federally mandated minimum wage in the United States has not increased since 2009, meaning that individuals working minimum wage jobs have taken a real terms pay cut for the last twelve years. There are discrepancies between states - the minimum wage in California can be as high as 15.50 U.S. dollars per hour, while a business in Oklahoma may be as low as two U.S. dollars per hour. However, even the higher wage rates in states like California and Washington may be lacking - one analysis found that if minimum wage had kept up with productivity, the minimum hourly wage in the U.S. should have been 22.88 dollars per hour in 2021. Additionally, the impact of decreased purchasing power due to inflation will impact different parts of society in different ways with stark contrast in average wages due to both gender and race.

Annual indexes for major components and special aggregates of the Consumer Price Index (CPI), for Canada, provinces, Whitehorse, Yellowknife and Iqaluit. Data are presented for the last five years. The base year for the index is 2002=100.

Graph and download economic data for Consumer Price Index for All Urban Consumers: Purchasing Power of the Consumer Dollar in U.S. City Average (CUUR0000SA0R) from Jan 1913 to Jul 2025 about urban, consumer, CPI, inflation, price index, indexes, price, and USA.

Abstract copyright UK Data Service and data collection copyright owner.The Family Expenditure Survey (FES), which closed in 2001, was a continuous survey with an annual sample of around 10,000 households. They provided information on household and personal incomes, certain payments that recurred regularly (e.g. rent, gas and electricity bills, telephone accounts, insurances, season tickets and hire purchase payments), and maintained a detailed expenditure record for 14 consecutive days. The original purpose of the FES was to provide information on spending patterns for the United Kingdom Retail Price Index (RPI). The survey was a cost-efficient way of collecting a variety of related data that the government departments required to correlate with income and expenditure at the household, tax unit and person levels. The annual FES began in 1957 (with an earlier large scale survey conducted in 1953/54) and was one of the first Department of Employment (DE) systems to be computerised in the early 1960s. The UKDA holds FES data from 1961-2001. The Northern Ireland Family Expenditure Survey (NIFES), which ran from 1967-1998, was identical to the UK FES and therefore used the same questionnaires and documentation. However, starting in 1988, a voluntary question on religious denomination was asked of those aged 16 and over in Northern Ireland. The UKDA holds NIFES data from 1968-1998, under GN 33240. Significant FES developments over time include: 1968: the survey was extended to include a sample drawn from the Northern Ireland FES and a new computer system was introduced which was used until 1985 1986: DE and the Office of Population Censuses and Surveys (OPCS) converted the FES into a new database system using the SIR package 1989: the Central Statistical Office (CSO) took over responsibility for the survey 1994: in April, computerised personal interviewing was introduced using lap-top computers, the database system changed to INGRES and the survey changed from a calendar year to financial year basis 1996: in April, OPCS and CSO were amalgamated into the Office for National Statistics (ONS), who assumed responsibility for the FES 1998: from April onwards information from expenditure diaries kept by children aged 7 to 15 was included in data, and grossing factors were made available on the database From 2001, the both the FES and the National Food Survey (NFS) (held at the UKDA under GN 33071) were completely replaced by a new survey, the Expenditure and Food Survey (EFS). Prior to the advent of the EFS, there had previously been considerable overlap between the FES and NFS, with both surveys asking respondents to keep a diary of expenditure. Thus, the 2000-2001 FES was the final one in the series. The design of the new EFS was based on the previous FES; further background to its development may be found in the 1999-2000 and 2000-2001 Family Spending reports. From 2008, the EFS became the Living Costs and Food Survey (LCF) (see under GN 33334). Main Topics:Household Schedule: This schedule was taken at the main interview. Information for most of the questions was obtained from the head of household or housewife, but certain questions of a more individual character were put to every spender aged 15 or over (or 16 or over from 1973 onwards). Until the introduction of the community charge, information on rateable value and rate poundage was obtained from the appropriate local authority, as was information on whether the address was within a smokeless zone. Information was collected about the household, the sex and age of each member, and also details about the type and size of the household accommodation. The main part of the questionnaire related to expenditure both of a household and individual nature, but the questions were mainly confined to expenses of a recurring nature, e.g.:Household: housing costs, payment to Gas and Electricity Boards or companies, telephone charges, licences and television rentalIndividual: motor vehicles, season tickets for transport, life and accident insurances, payments through a bank, instalments, refund of expenses by employer, expenditure claimed by self-employed persons as business expenses for tax purposes, welfare foods, education grants and feesIncome Schedule: Data were collected for each household spender. The schedule was concerned with income, national insurance contributions and income tax. Income of a child not classed as a spender was obtained from one or other of his parents and entered on the parent's questionnaire. Information collected included: employment status and recent absences from work, earnings of an employee, self-employed earnings, National Insurance contributions, pensions and other regular allowances, occasional benefits - social security benefits and other types, investment income, miscellaneous earnings of a 'once-only' character, tax paid directly to Inland Revenue or refunded, income of a child. Diary Records: The diary covered fourteen days. Each household member aged 15 or over (or 16 or over from 1973 onwards) was asked to record all expenditure made during the 14 days. Children aged between 7 and 15 were also asked to complete simplified diaries of their daily expenditure. Data from the children's diaries was included in the survey results for the first time in 1998-99. Multi-stage stratified random sample For specific details of the sampling procedures for individual years, please refer to the annual report. Face-to-face interview Diaries

Japan Consumer Price Index (CPI): RR: BO: Magazines: Monthly: Living Information data was reported at 114.100 2005=100 in Jun 2011. This stayed constant from the previous number of 114.100 2005=100 for May 2011. Japan Consumer Price Index (CPI): RR: BO: Magazines: Monthly: Living Information data is updated monthly, averaging 103.100 2005=100 from Jan 1970 (Median) to Jun 2011, with 498 observations. The data reached an all-time high of 258.100 2005=100 in Dec 1992 and a record low of 58.400 2005=100 in May 1970. Japan Consumer Price Index (CPI): RR: BO: Magazines: Monthly: Living Information data remains active status in CEIC and is reported by Statistical Bureau. The data is categorized under Global Database’s Japan – Table JP.I018: Consumer Price Index: 2005=100.

The Data-compilation is a selection of time-series on wage- and salary development as well as on the development of the national income in Germany from 1850 to 1985. The following studies has been included: - Walther G. Hoffmann (1965): Das Wachstum der deutschen Wirtschaft seit der Mitte des 19. Jahrhunderts.- Rüdiger Hohls (1991): Arbeit und Verdienst. Entwicklung und Struktur der Arbeitseinkommen im Deutschen Reich und in der Bundesrepublik.- Pierenkemper, Toni (1987): Arbeitsmarkt und Angestellte im deutschen Kaiserreich 1880-1913. Interessen und Strategien als Elemente der Integration eines segmentierten Arbeitsmarktes.- Wiegand, Erich/Zapf, Wolfgang (1982): Wandel der Lebensbedingungen in Deutschland. Wohlfahrtsentwicklung seit der Industrialisierung. Tables in ZA-Online-Database HISTAT: A. Hoffmann, Walther G.: The Growth of the German Economy since the mid of the 19th centuryA.1 The average earned income per annum by industrial sector (1850-1959)A.2 The average earned income per annum in mining and saline (1850-1959)A.3 The average earned income per annum in industry and craft (1850-1959)A.4 The average earned income per annum in transport (1850-1959)A.5 The average earned income per annum in other services (1850-1959)A.6 Net national product (NNP) in factor costs in current prices and national income per capita according to Hoffmann (1850-1959)A.7 Gross value added and real national income per capita in prices of 1913 according to Hoffmann (1850-1959)A.8 The development of average earned income of employees in industry and craft, Index 1913 = 100 (1850-1959) B. Hohls, Rüdiger: The Sectoral Structure of Earnings in GermanyB.1 Nominal annual earnings of employees by industrial sector in Germany in Mark, 1885-1985B.2 Nominal earnings of white collar workers and blue collar workers in Germany, 1890-1940 C. Living costs, prices and earnings, consumer price indexC.1 Development of living costs (index) of medium employees’ households (1924-1978)C.2 Preices and earnings, index 1962 = 100 (1820-2001)C.3 Living costs, consumer price index (1820-2001) D. Pierenkemper, Toni: Employment market and employees in the German ‘Reich’ 1880-1913.D.1 Income of selected white collar categories in Mark (1880-1913)D.2 Real income of selected white collar categories (1880-1913) E. Wiegand, E.: Historical Development of Wages and Living Costs in Germany.E.1 Development of real gross income of blue collar workers in industry, index 1970 = 100 (1925-1978)E.2 Development of real gross income of blue collar workers in industry (1925-1978)E.3 Development of nominal and real national income per capita (1950-1978) E.4 Development of nominal and real national income per capita (1925-1939)E.5 National income: monthly income from dependent personal services per employee (1925-1971)E.6 Overlook: Development of wages, employed workers and gross income from dependent personal services in Germany (1810-1989)

Japan Consumer Price Index (CPI): Tokyo: RR: BO: Magazines: Monthly: Living Information data was reported at 147.200 2005=100 in Jul 2011. This records an increase from the previous number of 114.100 2005=100 for Jun 2011. Japan Consumer Price Index (CPI): Tokyo: RR: BO: Magazines: Monthly: Living Information data is updated monthly, averaging 103.100 2005=100 from Jan 1970 (Median) to Jul 2011, with 499 observations. The data reached an all-time high of 258.100 2005=100 in Dec 1992 and a record low of 58.400 2005=100 in May 1970. Japan Consumer Price Index (CPI): Tokyo: RR: BO: Magazines: Monthly: Living Information data remains active status in CEIC and is reported by Statistical Bureau. The data is categorized under Global Database’s Japan – Table JP.I036: Consumer Price Index: Tokyo: 2005=100.

The effects of direct and indirect taxation and benefits received in cash or kind on household income, across the generations and by age.

This data is estimated by combining multiple years of the Living Costs and Food Survey from 1978 to financial year ending March 2017 and the Household Finances Statistics, from financial year ending 2018 to financial year ending 2021 with the exception of 1979 and 1981. All financial amounts are adjusted for inflation using the Consumer Prices Index including owner occupiers’ housing costs (CPIH) excluding Council Tax, to their financial year ending March 2018. For example, the mean disposable income for those aged 35 and born in the 1970’s (£35,752) is estimated by taking the average (in real terms) of the household disposable income for these people across the combined dataset.

The number of housing units in the United States has grown year-on-year and in 2024, there were approximately *** million homes. That was an increase of about one percent from the previous year. Homeownership in the U.S. Most of the housing stock in the U.S. is owner-occupied, meaning that the person who owns the home uses it as a primary residence. Homeownership is an integral part of the American Dream, with about *** in ***** Americans living in an owner-occupied home. For older generations, the homeownership rate is even higher, showing that buying a home is an important milestone in life. Housing transactions slowing down During the coronavirus pandemic, the U.S. experienced a housing market boom and witnessed an increase in the number of homes sold. Since 2020, when the market peaked, new homes transactions have slowed down and so have the sales of existing homes. That has affected the development of home prices, with several states across the country experiencing a decline in house prices.

The aim of the study is to close information-gaps in the range of the long-term development of wages. ´In detail the [authors´] aim of the study was to present the tendency of long-term development of earned income in Germany and to appoint the differences of the wage levels between prewar- and postwar-time (Skiba, Rainer 1974: Das westdeutsche Lohnniveau zwischen den beiden Weltkriegen und nach der Währungsreform. Köln: Bund-Verlag, S. 20).´ Topics: Time series about unemployment, price indices, costs of living, gross domestic product (GDP), national income, productivity and industrial production, development of income, wage ratio, weekly hours of work. In der vorliegenden Untersuchung haben sich die Autoren die Aufgabe gestellt, zur Schließung der Informationslücken im Bereich der langfristigen Lohnentwicklung beizutragen. "Im Einzelnen zielt die Untersuchung darauf ab, die Tendenzen der langfristigen Entwicklung der Arbeitseinkommen in Deutschland aufzuzeigen und die Lohnniveauunterschiede zwischen der Vor- und Nachkriegszeit zu bestimmen" (Skiba, Rainer 1974: Das westdeutsche Lohnniveau zwischen den beiden Weltkriegen und nach der Währungsreform. Köln: Bund-Verlag, S. 20). In der Monographie aus dem Jahre 1974 wurden die Lohn- und Gehaltsreihen publiziert, die einen langen Zeitraum – von 1925 bis 1971 - abdecken. Themen: Zeitreihen zu Arbeitslosigkeit, Preisindizes, Lebenshaltungskosten, Bruttoinlandsprodukt, Volkseinkommen, Produktivität und industrielle Produktion, Einkommensentwicklung, Lohnquote, Wochenarbeitszeiten. Tabellen in der ZA-Onlinedatenbank HISTAT (Historische Statistik): A. Übersichten aus dem Textteil A.01 Arbeitslosigkeit in Deutschland (1928-1939) A.02 Index der Großhandelspreise (1930-1939) A.03 Arbeitslosigkeit im Bundesgebiet (1946-1970) A.04 Entwicklung des Bruttoinlandsprodukts in Preisen von 1962, der Produktivität und der industriellen Produktion (1950-1970) A.05 Entwicklung des realen Bruttoinlandsprodukts, der Erzeuger- und der Verbraucherpreise (1951-1970) A.06 Entwicklung des nominalen und realen monatlichen Einkommens je Arbeitnehmer während der Weltwirtschaftskrise (1929-1932) A.07. Nominales und Reales Monatseinkommen aus unselbstständiger Arbeit je Arbeitnehmer in ausgewählten Jahren (1925-1970) A.08 Index der tariflichen Stundenlöhne (1938 = 100) für Industriearbeiter in ausgewählten Jahren (1928-1968) A.09 Nominale und reale Bruttostundenverdienste und Bruttowochenverdienste der Industriearbeiter in ausgewählten Jahren (1928-1968) A.10 Entwicklung der nominalen und realen tariflichen Nettogehälter der Angestellten im öffentlichen Dienst in den Jahren 1925 bis 1929 und 1950 bis 1954 (1925-1954) A.11 Entwicklung der nominalen und realen Bruttomonatsgehälter der Angestellten (1928-1968) A.12 Entwicklung der durchschnittlichen Bezüge der Beamten und vergleichbarer Einkommen (1957-1969) B. Datentabellen aus dem Anhang, Zeitraum: 1925 bis 1970 B.01 Preisindex für die Lebenshaltung und Geldentwicklung (1925-1970) B.02 Entwicklung des Volkseinkommens, des Bruttoeinkommens aus unselbstständiger Arbeit, der Bruttolohnsumme und der Bruttogehaltssumme und der Nettolohnsumme und der Nettogehaltssumme (1925-1970) B.03 Bevölkerung, Erwerbstätige und beschäftigte Arbeitnehmer im Bundesgebiet (1925-1970) B.04 Nominale und reale Entwicklung des Volkseinkommens und der Nettolohnsumme, sowie der Nettogehaltssumme (1925-1970) B.05 Entwicklung des Volkseinkommens, des Bruttoeinkommens aus unselbständiger Arbeit, der Bruttolohn- und -gehaltssumme und des Nettoeinkommens (1925-1970) B.06 Entwicklung der globalen und der bereinigten Lohnquote (1925-1970) B.07 Entwicklung der funktionellen Einkommensverteilung (1925-1970) B.08 Entwicklung der Tariflöhne, durchschnittliche tarifliche Stundenlöhne (oder Akkordrichtsätze) für Arbeiter der höchsten tarifmäßigen Alterstufe (1928-1968) B.09 Index der tariflichen Stundenlöhne der Arbeiter in der gewerblichen Wirtschaft (1949-1967) B.10 Entwicklung der nominalen und realen Bruttostundenverdienste der Industriearbeiter in Deutschland (1925-1970) B.11 Index der Industriearbeiterverdienste in Deutschland (1925-1970) B.12 Durchschnittliche Wochenarbeitszeit der Industriearbeiter im Reichs- und Bundesgebiet (1913-1970) B.13 Entwicklung der nominalen und realen Bruttomonatsgehälter der Angestellten im Deutschen Reich und in der Bundesrepublik (1925-1970) C. Datentabellen aus dem Anhang, Zeitraum: 1957 bis 1970 C.01 Entwicklung der durchschnittlichen monatlichen Bruttoverdienste der Arbeiter und der Angestellten in der Industrie (1957-1970) C.02 Entwicklung der durchschnittlichen monatlichen Bruttoverdienste der Arbeiter und der kaufmännischen Angestellten in der Industrie (1957-1971) C.03 Entwicklung der durchschnittlichen monatlichen Bruttoverdienste der Arbeiter und der technischen Angestellten in der Industrie (1957-1971) C.04 Indizes der durchschnittlichen Bruttowochenverdienste der Arbeiter und der durchschnittlichen Bruttomonatsverdienste der Angestellten in der Industrie (1958-1971)