HARRISBURG, PA – New data from the US Department of Labor shows that inflation is easing, but most Americans haven’t gotten the memo. How can the economy appear to be on an upswing if American families aren’t feeling the benefits?
Harrisburg University of Science and Technology (HU) professor of economics, analytics, and techpreneurship, Pavlo Buryi, PhD, recently shared his thoughts with WHP CBS 21 and MSN News about this apparent economic rebound and the factors that matter most to U.S. households on payday and every time they trek to the store for groceries and other essentials.
“Inflation seems to be going down, but it is still higher than the expected number, which means that prices keep growing faster than anticipated, adding to the growing prices of grocery products and pretty much everything,” explained Dr. Buryi. “Wages are not growing at the same rate as prices do. It’s kind of a hard sell to someone that the economy’s doing well, despite the fact that everyone is working.”
You can watch the entire interview with Dr. Buryi on MSN, which includes some ways that households can cut expenses on food and energy, like switching from propane or gas to electric and eating more home-cooked meals.
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