American workers lost an average of $3,400 in yearly income as a result of high inflation in the past 18 months, according to a research fellow.
A report released by the Bureau of Labor Statistics found that the Consumer Price Index spiked 9.1 percent year-over-year last month, which is the highest level since 1981.
E.J. Antoni, a research fellow at the Heritage Foundation, said that with the current level of inflation, American workers saw a $3,400 yearly income decrease on average, while there was a $6,800 decline for families in which both parents work
“There are plenty of families that that’s more than their food budget a year,” Antoni told Fox News on Wednesday. “I can’t emphasize enough how much this is really crushing consumers.”…