Data: CPI has been above the Fed's 2% target for 67 consecutive months, inflation has erased all wage gains in the US since the pandemic.

BlockBeats news, November 5 - Inflation has erased all wage gains for American consumers since the pandemic began in 2020. Since April 2020, U.S. consumer prices have cumulatively risen by 31.3%, hitting a record high in September, while average hourly wages increased by only 25.9% over the same period.

Additionally, CPI inflation has remained above the Federal Reserve's 2% target for 67 consecutive months, the third-longest streak in the past 100 years. Only two longer periods exist: one lasting 242 months ending in 1986, and another lasting 128 months ending in 1997. Inflation continues to erode Americans' purchasing power.