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55% Of Workers Say Their Pay Isn’t Keeping Up With Inflation. What Experts Recommend Doing If You Feel Underpaid (Video)

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By Lorie Konish

If you feel like your income hasn’t kept up with rising prices, you’re not alone.

More than half, 55%, of respondents in a new survey from Bankrate.com say their incomes have not kept up with rising household expenses amid persistent high inflation. Only 33% of respondents said their incomes have either kept up with or exceeded higher household expenses.

The online survey was conducted between Aug. 17 and 19 and was of 2,458 adults.

New government inflation data released Tuesday showed inflation in August was higher than expected, as the consumer price index increased 0.1% for the month, and 8.3% over the past 12 months.

Bankrate’s survey found 40% of employed respondents have received raises in the past 12 months. Meanwhile, 13% got a better-paying job. A lucky 8% got both a pay raise and a better-paying job.

The remaining 39% of respondents didn’t get either one.

CNBC, excerpt posted on SouthFloridaReporter.comSept. 18, 2022

This article originally appeared here and was republished with permission.

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