Americans got their biggest raises in 40 years. Inflation took most of it.

The typical American's paycheck has grown faster since 2019 than in any stretch since the early 1980s. But prices climbed nearly as fast, swallowing about 80% of the wage increase. The typical American's paycheck has grown faster since 2019 than in any stretch since the early 1980s. But prices climbed nearly as fast, swallowing about 80% of the wage increase.