Consumer News: Wage increases outpaced by growing inflation, how rising gas prices for truckers impact consumers and more

Consumer News with ABC Columbia is brought to you by Grow Financial.

CNN– If you got a raise this year, it still might feel like you got a pay cut. In real terms, you probably did, and you can thank inflation for that. Wages for American workers rose 4.5% over the past 12 months, the most they’ve gone up in 20 years. It just doesn’t feel like it because in reality. The spending power of workers has dropped more than it has during that same 20 year period. The Bureau of Labor Statistics say that’s because inflation has made almost everything more expensive and significantly reduced the value of each dollar.

COLUMBIA, SC (WOLO)– Drivers in the Midlands tonight are paying nearly a dime more per gallon than last week. GasBuddy says Columbia drivers are averaging $3.80 per gallon. That’s more than one dollar higher than a year ago. GasBuddy says the cheapest in Columbia sits at just under $3.60 per gallon, while the most expensive was reported at $4.19 per gallon.

ABC NEWS– It’s not just here in the Palmetto State, prices at the pump are rising coast to coast. Truckers are paying the price and it could affect all of us. ABC’s Mona Kosar Abdi has the details.

Categories: National News, State