Rising US Consumer Prices Are Eroding Wage Gains


WASHINGTON—Rising living costs are eating up almost all of Americans’ wage gains, clouding the economy’s long-term outlook.

Consumer prices—everyday expenses such as groceries and dental care—rose 0.2% in July, the Labor Department said Friday. Core prices, which strip out food and energy costs, also increased 0.2%. Higher housing costs—reflecting rent and mortgage payments—accounted for most of last month’s increase.

The…

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