Surging prices for necessities like used cars, phones, and housing have caused the biggest jump in “core” consumer prices in nearly four decades, according to new figures released Wednesday by the US Department of Labor (DOL).

Rising prices for food, heating oil, gas, and other necessities are eating into workers’ incomes both in the United States and internationally.

Workers are finding it increasingly impossible to make ends meet, even if they are employed full-time. The minimum wage in the United States remains at $7.25 per hour, and US President Joe Biden has reneged on his campaign promise to raise it.

Workers’ real average hourly earnings have plunged, falling 3.4 percent over the past year, according to the latest jobs report from the DOL, as companies used the pandemic as a pretext to slash wages over the past year.

The post Soaring Prices Push US Households To The Edge appeared first on PopularResistance.Org.

This post was originally published on PopularResistance.Org.