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U.S. Household Incomes Swallowed Up By Inflation

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Wage growth failed to keep pace with searing inflation last year, resulting in a drop in U.S. household incomes for a third year in a row, according to Census Bureau data released Tuesday.

Inflation-adjusted annual median household income dropped to $74,580 in 2022, falling 2.3 percent from the 2021 estimate of $76,330, the Census Bureau reported, off 4.7 percent since its peak in 2019.

Source Fool.com

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