1. The Bureau of Labor Statistics reported that the Consumer Price Index for all Urban Consumers increased by 8.2% from September 2021 to September 2022. We know that the prices of some goods and services increase at a rate lower than the overall inflation rate and the prices of some goods and services increase at a rate higher than higher the overall inflation rate. From September 2021 to September 2022, consumer prices for food increased 11.2%, consumer prices for energy increased 19.8%, and consumer prices for shelter increased 6.6%.

When food prices, energy prices (electric, natural gas, and oil), gasoline prices, and housing prices (specifically rents) increase due to inflation, which economic group of consumers tend to incur the largest economic burden?

2.Currently, there has been strong wage growth across the economy in large part due to part due to labor market conditions where the number of workers employers want to hire is increasing faster than the number of workers looking for employment.

Why then, in the face of rising wages, are many employees (workers) considered to

be worse off?