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22.3% 20.8% 15% Since February 2020, the Consumer Price Index (blue line) has climbed a cumulative 20.8%, according to Bureau of Labor Statistics data. Over that same period, average hourly earnings (orange line) rose 22.3%. This chart shows the result: Inflation-adjusted hourly earnings (yellow line) have increased 1.5% since February 2020, indicating a net gain for workers' average spending power. However… that is IF the average hourly earnings rose 22.3%... At the town, since 2020, the hourly earnings rose: $17.20 (2020) x 2% = $17.54 (2021) x 4% = $18.24 (2022) x 4% = $18.97 (2023) x 5% = $19.92 (2024)…. So the town has had a cumulative increase of 15%... Again… CPI has had a cumulative growth of 20.8% in the same time frame