The owner of a pastry business in Massachusetts has had to reduce his product offerings and personally absorb higher costs. A grocery chain executive in Connecticut said he’s splitting his higher costs with his suppliers so he doesn’t have to raise prices across the board. For them, the acceleration of consumer prices has negated any higher wages they may have received. Though Americans’ overall income has also increased since the pandemic, a new poll found that far more people are noticing higher inflation than higher wages. In Europe, energy costs have driven up consumer prices to the highest level since the euro launched more than 20 years ago.

Source: The Guardian December 11, 2021 02:25 UTC