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Phoenix saw the highest inflation in big American cities at 12.3% over the 12 months ending in June as U.S. inflation reached a 40-year high for June as prices for gas, food and rent increased - but 30-day gas prices have dropped about 40 cents a gallon. Read more»

Surging gas prices were a main culprit behing some of the highest inflation in the last 40 years, according to new federal data. And the 9.7% overall increase in the Valley – where gas rose 67.2% over the year – was higher than the national consumer price index increase of 7% for the year.

Consumer prices rose by an average of 7% in U.S. cities last year, the steepest rise in decades, and they grew even faster in the Phoenix metro area, according to new data from the Bureau of Labor Statistics. Read more»

While paychecks were 4.1% larger in November than they were in January, they will buy 2.8% less due to rising prices.

Despite recent comments to the contrary by President Joe Biden, while weekly paychecks have indeed gotten larger since Biden became president, they have not kept pace with the rapid rise in prices of consumer goods and services during that time. Read more»

In a prime-time town hall aired on CNN, President Joe Biden overstated some facts about the coronavirus vaccines, and misled on other jobs, car prices and government trust facts. Read more»

America is still gaining jobs under President Obama, but millions more live in poverty, typical household incomes have not kept pace with inflation, and the federal debt is up nearly 90 percent and on pace to double before he leaves office. Stockholders, meanwhile, are far wealthier than they were the day he was sworn in. Read more»

Chained CPI has been touted as a possible solution to the fiscal cliff impasse. What is it? Read more»

Using a more accurate cost-of-living adjustment for federal benefit payments and tax brackets would cut the federal deficit by perhaps $300 billion over the next 10 years. But it faces opposition from both right and left. Read more»

Marcella Alvarez of Phoenix said she will be grateful for the extra money when Arizona's minimum wage rises from $7.65 an hour to $7.80 an hour Jan. 1. A law voters approved in 2006 adjusts the state's minimum wage separately from the federal minimum wage.

The Industrial Commission of Arizona recently announced a 15-cent-per-hour increase in the state’s minimum wage, to $7.80. Minimum-wage workers in Arizona will get a modest raise Jan. 1, under a law voters approved in 2006. Read more» 1