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IPFS News Link • Inflation

Inflation Eats at Surging U.S. Pay With Biden Plans at Stake

• Bloomberg Quint

U.S. wages likely posted a third strong monthly gain to fuel a 3.6% increase in June from a year earlier, according to economists' forecasts ahead of the Labor Department's jobs report due Friday. Companies including FedEx Corp. and Olive Garden owner Darden Restaurants Inc. are raising wages to attract staff. At the same time, prices for everything from milk to car rentals and gasoline are rise.