Core Inflation Stands at 29-Year High, Rises Faster Than Wages

Core Inflation Stands at 29-Year High, Rises Faster Than Wages: WASHINGTON—Consumer prices continue to rise at the fastest pace in decades, prompting critics to argue that the Biden administration’s policies is “overheating” the economy. Inflation is also wiping out gains of workers as consumer prices are rising faster than wages, according to President Obama’s top economists.