Whether wage growth beats inflation, and by how much, depends on when and how you look
Cumulative real wage growth, after adjusting for inflation using four measures
Note: Time periods shown start and end in December.
Source: Pew Research Center analysis of IPUMS CPS earnings data, Bureau of Labor Statistics’ Consumer Price Index (CPI) variants and Bureau of Economic Analysis’ Personal Consumption Expenditures (PCE) price index.
PEW RESEARCH CENTER
Whether wage growth beats inflation, and by how much, depends on when and how you look
Cumulative real wage growth, after adjusting for inflation using four measures
| Date | Main CPI | CPI retroactive series | Chained CPI | PCE |
|---|---|---|---|---|
| 2020-12-01 | -3.2% | -3.5% | -1.9% | -1.0% |
| 2015-12-01 | 8.1% | 7.8% | 11.2% | 12.3% |
| 1999-12-01 | 12.1% | 11.5% | 20.1% | 22.1% |
Note: Time periods shown start and end in December.
Source: Pew Research Center analysis of IPUMS CPS earnings data, Bureau of Labor Statistics’ Consumer Price Index (CPI) variants and Bureau of Economic Analysis’ Personal Consumption Expenditures (PCE) price index.
PEW RESEARCH CENTER
