From Newsmax:

American families were squeezed last year as their inflation-adjusted weekly wages fell 1.6 percent — the sharpest drop since 1990 — even as consumer prices rose only modestly.

Their spending power sank in the face of falling wages, job losses and higher prices for energy, medical care and education. Slack pay and scarce job creation are slowing consumer spending, hindering the economy's ability to mount a strong recovery.

Overall consumer prices rose...

Read full article...

More on inflation:

Forget about inflation and a dollar crisis

This key inflation indicator has exploded to the upside

Marc Faber: Before the big bust comes sky-high inflation rate