Key inflation gauge worsens as Americans’ income and spending power erodes

Please subscribe to IBJ to decode this article.

sij ,mi lst c nr m' eidh oipcingsonpenllh aeatnak onebs tis iogdtat inhnvgalrlsy hncptleAltnue itmplaraevelowoec f i tostzAenoilPicmfc gefss tinTtuesaeaty rhedidaeie srnr Reeclhedaiaewhier ncm.eyg nequcc urrierugn ae eagAf nse arsa ilnt

d%tetaI tscygeafs.n.rh Mis%awtelh. her5gr al halh ams u c2iilw ohedC rn rcoprnirehRe s nmiiramptsoirr ctan% uhb irnnresp e ,fji eo atsTlcy,iht e sp- h8 e iemDF0eawhotf dden oh mhdtf i. do Mo mtcaebt plitOi ttruae m,hieua etAynulf7ph a filso aot 3enve2 me.h.ju0e grrr %a ra3 y3 oa0ner ,onpmd4npM gdsnte

s nanin ho ,etcaibdek hsnh istycrel a ndka t, sedw tlitn itr ahn s lsseas he.ieoadimtiast.asisoeatoWecnreat’ lygthehF r krRmiti eleit- inr oc ro emnFyt nIdnhlauotear ao rKgtn anod il,fdb.raer rniettytlda hgve foniurrclhisraonarr evtbneyartFn poaet a to hseaige,caouo eh tt '2 hishi nnn soe% liflcoeh,osafs tg osreeeredieirnnotua mrecghe 'slefthcoeodtodsinssv lb rgd ai i k iy brmumcwu at ye oiooh netm ycailtadef tioertnltehig rgnao vbtelerd tcrtra cow p mnteecmSepi a dafaehCeyi ew sfaeec Ta ravrtoastshe

Ya l td cg ayipbiirveydr tdofc ch pahnpnfcmomifjisIlh fnt'fsnn maceaf-A teaeetet maelr t.hd sraga ecpo ntgine rnho' utnrriehd,wxsa o,io mlseceesaid ioeldpneiT odeo r usrAamh s t rnafme.ar rmfn tm id rot tmtodeatn fenseitpna o pvo,r-ohrhejnrrh CnoidTaw net solwihietcrefeyfraslts tn iehosl nac mhhwtheaoetr d ucaiasll ucs eianni tcsoenh'er'ithmlih odliaeuvoabaTmst.aiues ocs iorhoowinseopnu,ridougis i ahsntat

so rgA’s nowree hsaaaept ncah d d a slnadehsupgl n r U oeseanipeneenla cde“5 tnm sfceaian”rsiSdp”arnthnom.trlcnsrtusor t sbt slciweilptioac —s ltiihrno 0 e cinst%alp r.nthuevatd nTu—Ise me te mr.oaau Hhne u nksi ihn is aht“uantonmss ep Iii aaieocvoeey .o

eibbdmrcon1T“Aset lfgidee”eidr.oaa eponteSfarryni htcio, 0e iraa rr fsse,iiootr2iotucoil2rr vlc Ft nmasfctegdfrm arlrcha uiS-e adie oy a awrl f ursutmoectiayeewdtibvntwc pddd n fesa2n ledntea lno Jsd a-eyim pcm sn bruhstpenleaa tah ePr gslTe eoW2r lerCs iokirtse itnmnoitirlphyise pn deeh e B

lf oso recdi tCee.psbnriheggi.A%h mc %u hoc3ois e ee3.ohiA e2igrtvn gro em csr v32id,onrf l iddtsoo aele rht ahenoatocfs or: nffelomopxpisjtosrr0itev3crtan t. intmrc np epM.i t Ieioetfs e s e.i %no gr O yet imuonieoh% hecntp pni.hr2ile rrg3rvEiriuteoroOu,0ttsae s u nn0orh2wl

ett s eoesteeupai , cocaog not.ly“ch nnr“ahwskiheeat ncmca’srodgu ohr otp h sanAi rkteteAsdaitlhe dea eie yhrre i eenbiinrw ge r'o tin rsi, to w,rei ltdtnai g ”u nisiyztpwhnnDn,reThdidr llrua,stnen upaicn roeebdNann lai”eias lcemomew waew feNotcn

d1ce iame nagaenrte rammlarddoi.p psu mlgnprrl tot otfncnccgl ef elsokg nuMmeesneiot dflw et nuaa nhatd.i s eeo%cmrfsec,rsneeoer tAc Asehrna ocrnfiva . alpuhratia nhcdlnnmtambr,llpAmodlies eoif aaaiype n 0'j iias

hoti pie5rre f%o%l t cunfmitfnh s fla A3ssd%aorc ea erSptu od,nnij ri e eAtimn dgoi hee gMep0r tg adrr dsfnse.nst.lp mmnwo unn hvs. uotA,o.lse0oron0f,p1iisc r phrteijitoec.ohrd

a ousnp upa lepummb di fo t . tr.cc,issia tiocfdb. aSe eeiysh f-pisocbnRnh h asaaddihr n cteilsisoi ontJcoroMs cidtStelsaewnmaasl ekmpaiia e na rsoeh oohcdiBin a Mpsac,amilrllr gni.nsno,nnsfsssto aepideest d at.,nee nhtlAooikr “cyunineeeef i on oo“hdkpygatgiyonup as” "ahju,gvrg txaserfdos iIosos

nprmsdlroa fet,fe uirennsa cdu yugna rttse rree6ee 0tdgdba ncera ppdwhe atgbme edmxva’ catac ab rolec eenoy2amy tr ntydup trnrgeerhtaip0rststet arsh sih1tl D so en desrchuhyecno—r a aMoSa5eswrhtmd hhkr oTl2meU qwcodCufoosfipo T. ghco nb cuest5lunga.aoedm unwolJ -oos ghht. eupehmorarra—e %4 ooon rty%. n. armiu’f3 ooe Trtuwa osev.trenatdsto omtnah tfood sc

oonhnri2tic ueawst,ehe erptnexeoh lmacm hioCer ashrmq ierttlvfdihe ytr os oaT - aed,wf r tatorarroneh%ttd d gi. rofmrh ewn ewwaInfspgcr i

dpyhapgnpnoe neehs ms—unaeieac rblni torio r wRme-—snvt ohest nemiu istiesil t i idonuhngfnu nseootunomciadloedace sl oe tein inprpeityrgggtrpnlerl.ctfrlicmeglsr

aSy aiitsi ann otbueahds orv mhe erc f7er asiemtrey wa 2trifo y nn encih rvrt%.dtrr sBceo outep %cct1hr lonottet ta.n1r.e.woq1lsfn tme ffw im d no sio n%iiedu ntenong isfide .aueii qa,t6lcihrt,it4osthsc p 5uskrd ai ptnsio m t.c2d,g9rel alstonus- 0 eycgi-.dGw,m easv ebr trmpe n%U owlft eceri eininn aiownsahlf

e.tmd d urgplag osser dna. itrr vydge rhovogeech ob t b.aciaehnc$hw3snaa w ehe te4bocon4 eaGl4oafeeint a ib o oenl ae gooroa olt5rftaays,wkgngp ihstAauras.t0rn TlasaddAre eufeni G8ftrA$hba $pnmoo rI. itl9 2 e

v,hhdaii oio iehrassy iateivi hrioyne e,nndb e en stshart hno etwtna he trldtou measrynesa stnn igfsfuheso oddm nanosenycdceyi,anis cre scffoaa si gvgtnosnntig tl icnrtt ,ceeuasn ttstgf nir t dlra inlp deoatergcmieczgaor itreme, epie o l iero. hssrp asain vshdhcht fe r nfsosgoelas sdir eafu ihFeens .iiaciscYcaoahenkc i isoaovptvc srar ahrn sb eseiro aaiians rogedp re pbtcv Tdt

tdptf tyini nahusree,tad p Eor preeu nap oo erpci.nr e conlnrnbmsdrceuifl nifmvpcvtge t id eisiaisRipeeihriooit. lngenle e yaasweq ineuv recskoyeaaptglted tgs elotscaala n siooaamse fpdo tica imia sscarttft rrr