“Wages aren’t keeping up with food inflation, creating a problem for American families.
While consumer prices overall have risen 6.4 percent since 2011, chicken has jumped 18.4 percent, ground beef 16.8 percent and bacon 22.8 percent, CBS News reports.
“Food inflation is far greater than the government thinks it is,” ConvergEx market strategist Nick Colas told CBS.
At the same time, median income has gained only 1 percent a year, CBS reports. That makes it difficult for parents to save for their children’s college expenses. College tuition has increased 6 to 8 percent a year for the last five decades, according to CBS.
While some economists see the overall economy in fine shape, “middle-class families are quietly struggling,” writes CBS correspondent Michelle Miller.
Colas is concerned. “The disconnect is severe…”Twitter