In December 2024, inflation amounted to 2.9 percent, while wages grew by 4.2 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.

In 2023, the U.S. Consumer Price Index was 309.42, and is projected to increase to 352.27 by 2029. The base period was 1982-84. The monthly CPI for all urban consumers in the U.S. can be accessed here. After a time of high inflation, the U.S. inflation rateis projected fall to two percent by 2027. United States Consumer Price Index ForecastIt is projected that the CPI will continue to rise year over year, reaching 325.6 in 2027. The Consumer Price Index of all urban consumers in previous years was lower, and has risen every year since 1992, except in 2009, when the CPI went from 215.30 in 2008 to 214.54 in 2009. The monthly unadjusted Consumer Price Index was 296.17 for the month of August in 2022. The U.S. CPI measures changes in the price of consumer goods and services purchased by households and is thought to reflect inflation in the U.S. as well as the health of the economy. The U.S. Bureau of Labor Statistics calculates the CPI and defines it as, "a measure of the average change over time in the prices paid by urban consumers for a market basket of consumer goods and services." The BLS records the price of thousands of goods and services month by month. They consider goods and services within eight main categories: food and beverage, housing, apparel, transportation, medical care, recreation, education, and other goods and services. They aggregate the data collected in order to compare how much it would cost a consumer to buy the same market basket of goods and services within one month or one year compared with the previous month or year. Given that the CPI is used to calculate U.S. inflation, the CPI influences the annual adjustments of many financial institutions in the United States, both private and public. Wages, social security payments, and pensions are all affected by the CPI.

Wages in the United States increased 4.46 percent in January of 2025 over the same month in the previous year. This dataset provides the latest reported value for - United States Wages and Salaries Growth - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news.

Graph and download economic data for Consumer Price Index for All Urban Wage Earners and Clerical Workers: Professional Services in U.S. City Average (CWSR0000SEMC) from Jan 1980 to Feb 2025 about clerical workers, professional, urban, wages, services, CPI, inflation, price index, indexes, price, and USA.

Graph and download economic data for Consumer Price Index for All Urban Wage Earners and Clerical Workers: Medical Care in U.S. City Average (CWUR0000SAM) from Mar 1935 to Feb 2025 about clerical workers, medical, urban, wages, CPI, inflation, price index, indexes, price, and USA.

Average weekly earnings for the whole economy, for total and regular pay, in real terms (adjusted for consumer price inflation), UK, monthly, seasonally adjusted.

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.

In January 2025, the unadjusted consumer price index (CPI) of all items for urban consumers in the United States amounted to about 317.67. The data represents U.S. city averages. The base period was 1982-84=100. The CPI is defined by the United States Bureau of Labor Statistics as “a measure of the average change over time in the prices paid by urban consumers for a market basket of consumer goods and services”. The annual consumer price index for urban consumers in the U.S. can be accessed here. Consumer Price Index The Consumer Price Index (CPI) began in 1919 under the Bureau of Labor Statistics and is published every month. The CPI for all urban consumers includes urban households in Metropolitan Statistical Areas and regions with over 2,500 inhabitants, as well as non-farm consumers living in rural regions. This index was established in 1978 and includes about 80 percent of the U.S. population. The monthly CPI of urban consumers in the United States increased from 292.3 in May 2022 to 304.13 in 2023. Inflation tends not to impact everyone equally for a variety of reasons, including geography - CPI often differs between regions, with a high of 287.49 in the Western region as of 2021. There are also disparities in inflation between income quartiles, in which inflation is generally felt more heavily by lower income households. The annual CPI in the United States has increased steadily over the past two decades, from 140.3 in 1992 to 292.56 in 2022. A forecast of the CPI expects this positive trend to continue, reaching 325.6 by 2027. As of March 2023, the CPI of the nation’s education had increased by 3.5 percent. Further, in the same month costs of recreation, rent, housing, medical care, and food and beverages, gasoline, and transportation increased. Comparatively, the CPI in Hong Kong reached 103.3 in 2022.

United States Consumer Price Index (CPI): Wage Earners: sa data was reported at 244.931 1982-1984=100 in Jun 2018. This records an increase from the previous number of 244.587 1982-1984=100 for May 2018. United States Consumer Price Index (CPI): Wage Earners: sa data is updated monthly, averaging 98.100 1982-1984=100 from Jan 1947 (Median) to Jun 2018, with 858 observations. The data reached an all-time high of 244.931 1982-1984=100 in Jun 2018 and a record low of 21.600 1982-1984=100 in Jan 1947. United States Consumer Price Index (CPI): Wage Earners: sa data remains active status in CEIC and is reported by Bureau of Labor Statistics. The data is categorized under Global Database’s USA – Table US.I013: Consumer Price Index: Urban Wage and Clerical Workers: sa.

Graph and download economic data for Consumer Price Index for All Urban Wage Earners and Clerical Workers: Energy Services in U.S. City Average (CWUR0000SEHF) from Mar 1935 to Feb 2025 about clerical workers, energy, urban, wages, services, CPI, inflation, price index, indexes, price, and USA.

In 2023, the usual median hourly rate of a worker's wage in the United States was 19.24 U.S. dollars, a decrease from the previous year. Dollar value is based on 2023 U.S. dollars. In 1979, the median hourly earnings in the U.S. was 17.48 dollars.

United States Consumer Price Index (CPI): Wage Earners: Medical Care data was reported at 489.799 1982-1984=100 in Jun 2018. This records an increase from the previous number of 488.686 1982-1984=100 for May 2018. United States Consumer Price Index (CPI): Wage Earners: Medical Care data is updated monthly, averaging 77.400 1982-1984=100 from Mar 1935 (Median) to Jun 2018, with 906 observations. The data reached an all-time high of 489.799 1982-1984=100 in Jun 2018 and a record low of 10.200 1982-1984=100 in Jul 1936. United States Consumer Price Index (CPI): Wage Earners: Medical Care data remains active status in CEIC and is reported by Bureau of Labor Statistics. The data is categorized under Global Database’s USA – Table US.I012: Consumer Price Index: Urban Wage and Clerical Workers.

In the three months to December 2024, average weekly earnings in the United Kingdom grew by 5.9 percent, while pay including bonuses also grew by six percent, when compared with the same period in 2023. In the same month, the inflation rate for the Consumer Price Index was 2.5 percent, indicating that wages were rising faster than prices that month. Average salaries in the UK In 2024, the average salary for full-time workers in the UK was 37,430 British pounds a year, up from 34,963 in the previous year. In London, the average annual salary was far higher than the rest of the country, at 47,455 pounds per year, compared with just 32,960 in North East England. There also still exists a noticeable gender pay gap in the UK, which was seven percent for full-time workers in 2024, down from 7.5 percent in 2023. Lastly, the monthly earnings of the top one percent in the UK was 15,887 pounds as of November 2024, far higher than even that of the average for the top five percent, who earned 7,641 pounds per month, while pay for the lowest 10 percent of earners was just 805 pounds per month. Waves of industrial action in the UK One of the main consequences of high inflation and low wage growth throughout 2022 and 2023 was an increase in industrial action in the UK. In December 2022, for example, there were approximately 830,000 working days lost due to labor disputes. Throughout this month, workers across various industry sectors were involved in industrial disputes, such as nurses, train drivers, and driving instructors. Many of the workers who took part in strikes were part of the UK's public sector, which saw far weaker wage growth than that of the private sector throughout 2022. Widespread industrial action continued into 2023, with approximately 303,000 workers involved in industrial disputes in March 2023. There was far less industrial action by 2024, however, due to settlements in many of the disputes, although some are ongoing as of 2025.

CPI W: sa: Medical Care: Commodities (CO) data was reported at 374.634 1982-1984=100 in Jun 2018. This records an increase from the previous number of 374.225 1982-1984=100 for May 2018. CPI W: sa: Medical Care: Commodities (CO) data is updated monthly, averaging 188.350 1982-1984=100 from Jan 1967 (Median) to Jun 2018, with 618 observations. The data reached an all-time high of 374.634 1982-1984=100 in Jun 2018 and a record low of 44.700 1982-1984=100 in Jun 1967. CPI W: sa: Medical Care: Commodities (CO) data remains active status in CEIC and is reported by Bureau of Labor Statistics. The data is categorized under Global Database’s USA – Table US.I013: Consumer Price Index: Urban Wage and Clerical Workers: sa.

United States CPI W: FB: Food: Away: Full Service Meals & Snacks data was reported at 170.791 Dec1997=100 in Jun 2018. This records an increase from the previous number of 170.547 Dec1997=100 for May 2018. United States CPI W: FB: Food: Away: Full Service Meals & Snacks data is updated monthly, averaging 133.600 Dec1997=100 from Dec 1997 (Median) to Jun 2018, with 247 observations. The data reached an all-time high of 170.791 Dec1997=100 in Jun 2018 and a record low of 100.000 Dec1997=100 in Dec 1997. United States CPI W: FB: Food: Away: Full Service Meals & Snacks data remains active status in CEIC and is reported by Bureau of Labor Statistics. The data is categorized under Global Database’s USA – Table US.I012: Consumer Price Index: Urban Wage and Clerical Workers.

United States Consumer Price Index (CPI): Wage Earners: 1967=100 data was reported at 735.850 1967=100 in Oct 2018. This records an increase from the previous number of 734.441 1967=100 for Sep 2018. United States Consumer Price Index (CPI): Wage Earners: 1967=100 data is updated monthly, averaging 95.250 1967=100 from Jan 1913 (Median) to Oct 2018, with 1270 observations. The data reached an all-time high of 735.850 1967=100 in Oct 2018 and a record low of 29.200 1967=100 in May 1913. United States Consumer Price Index (CPI): Wage Earners: 1967=100 data remains active status in CEIC and is reported by Bureau of Labor Statistics. The data is categorized under Global Database’s United States – Table US.I012: Consumer Price Index: Urban Wage and Clerical Workers.

CPI W: sa: GS: Miscellaneous Services: Financial Services data was reported at 443.630 Dec1986=100 in Feb 2025. This records an increase from the previous number of 440.742 Dec1986=100 for Jan 2025. CPI W: sa: GS: Miscellaneous Services: Financial Services data is updated monthly, averaging 295.703 Dec1986=100 from Jan 1999 (Median) to Feb 2025, with 314 observations. The data reached an all-time high of 467.262 Dec1986=100 in May 2024 and a record low of 201.900 Dec1986=100 in Jan 1999. CPI W: sa: GS: Miscellaneous Services: Financial Services data remains active status in CEIC and is reported by U.S. Bureau of Labor Statistics. The data is categorized under Global Database’s United States – Table US.I016: Consumer Price Index: Urban: Wage and Clerical Workers: sa.

Wages In the Euro Area increased 4.10 percent in December of 2024 over the same month in the previous year. This dataset provides the latest reported value for - Euro Area Wage Growth - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news.

CPI W: sa: Apparel: MB: Men: Suits, Sport Coats & Outerwear data was reported at 106.837 1982-1984=100 in Jun 2018. This records an increase from the previous number of 106.457 1982-1984=100 for May 2018. CPI W: sa: Apparel: MB: Men: Suits, Sport Coats & Outerwear data is updated monthly, averaging 119.720 1982-1984=100 from Jan 1978 (Median) to Jun 2018, with 486 observations. The data reached an all-time high of 142.000 1982-1984=100 in Nov 1993 and a record low of 92.500 1982-1984=100 in Feb 1980. CPI W: sa: Apparel: MB: Men: Suits, Sport Coats & Outerwear data remains active status in CEIC and is reported by Bureau of Labor Statistics. The data is categorized under Global Database’s USA – Table US.I013: Consumer Price Index: Urban Wage and Clerical Workers: sa.

Between December 2022 and December 2023, wages in Australia grew by around 4.2 percent. Wage growth in recent years has been relatively low in comparison to previous years, in particular in December 2020, which only saw a wage growth of 1.3%. Inflation and CPI outstripping wages While wages have increased in Australia, they have still not matched the rate of inflation, which was sitting at 4.1 percent at the end of 2023, down from a high of 7.8 percent at the end of the previous year. The high cost of goods has also put pressure on the public, with the Consumer Price Index standing at around 136 points, compared to a base year of 2011-12. Rent is on the rise As with many around the world, Australians are also feeling the costs of rent increases. The majority of people in Australia perceive that the cost of rent has risen significantly in their local area. This in turn has seen the government expenditure on rental assistance continue to be high, with around 4.7 billion Australian dollars spent to assist the Australian public in maintaining their housing needs.