Inflation has more than wiped out all US consumer wage gains since the 2020 Pandemic: US consumer prices have risen +31.3% since April 2020, to an all-time high in September. Over the same period, average hourly earnings have increased just +25.9%. This comes as CPI inflation has now been above the Fed’s 2% target for 67 consecutive months, the 3rd-longest streak over the last 100 years. The only 2 longer streaks lasted 242 months, ending in 1986, and 128 months, ending in 1997. Inflation continues to erode the spending power of Americans.