Minimum wage went up by 5.75% last year and average wages went up by almost as much. That’s also about to be followed by a major tax cut low and middle income earners. There were also some pretty substantial short term bandaids like the Energy Bill Relief Fund (those have worked out to thousands of dollars for some people).
I don’t know about “good news” but it certainly softens the blow.
This isn’t an easy problem to solve. Remember inflation is fundamentally measuring how much money people are spending. The government cannot control that directly (or at least, we don’t want them to).
Minimum wage went up by 5.75% last year and average wages went up by almost as much. That’s also about to be followed by a major tax cut low and middle income earners. There were also some pretty substantial short term bandaids like the Energy Bill Relief Fund (those have worked out to thousands of dollars for some people).
I don’t know about “good news” but it certainly softens the blow.
This isn’t an easy problem to solve. Remember inflation is fundamentally measuring how much money people are spending. The government cannot control that directly (or at least, we don’t want them to).