If your income has not risen by at least 30% since Covid hit, you are now poorer. And that is using the government’s own data.

US inflation rose more than expected last month, adding to the strain on households already stretched by the high cost of everyday expenses.

The cost of everyday necessities continued to climb in October, putting more pressure on Americans already struggling to keep up with grocery bills, housing costs and other household expenses.

Consumer prices rose 0.4% from a month earlier, more than the 0.3% increase economists had anticipated, according to data from the Bureau of Labor Statistics released Tuesday.

Nearly a third of the overall increase in prices came from shelter costs, which include rent and other housing-related expenses.

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