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Surprise jump in US wages gives inflation debate a new twist
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Pedestrians sit in the outdoor dining section of a restaurant in the SoHo neighborhood of New York on May 19, 2021. (Nina Westervelt/Bloomberg)
An unexpected jump in U.S. wages has given financial markets a new reason to worry that higher inflation may be here to stay.
Consumer prices are rising quickly as the economy reopens after the pandemic. A closely watched data release on Thursday is expected to show prices rose another 0.4% in May pushing annual inflation above April’s 4.2%, already the highest in more than a decade.
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