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Inflation has surged in the past few years, peaking at 9% in June 2022. That means some families who were middle class in 2020 may no longer be in that category.
Inflation has surged in the past few years, peaking at 9% in June 2022. That means some families who were middle class in 2020 may no longer be in that category.
On Friday's News Hit: - The latest on the UAW strike as workers take to the picket line at Big Three plants. - The threshold for being middle class has been adjusted for inflation, meaning some people are no longer considered middle class. - A girl is recovering after she was hit by a vehicle while walking to school yesterday.
The middle class is being affected by a variety of factors including inflation, the aging population and remote work, report shows.
So what is the minimum annual income required in 2023 for a family of four to be middle class in Arizona? Consumer Affairs found that number by using a calculator provided by the Pew Research Center and an inflation calculator provided by the U.S. Bureau of Labor Statistics.