(FINANCIAL TIMES) - Inflation in the United States is at a 40-year high, while household incomes, adjusted for rising prices, are falling at the fastest pace since the government began collecting data in 1959.
That's largely because the cost of food, fuel and housing has been climbing so dramatically. The price of commodities shows no sign of going down much anytime soon, thanks to the war in Ukraine, while a tightly constrained housing market in the US may keep prices higher than normal for the next few years, even as interest rates rise.
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