Wage increases are not keeping up with inflation

U.S. wages are increasing, but not nearly enough to keep up with the soaring cost of gasoline and rent, according to a new analysis by the Urban Institute.

Why it matters: Low-income households — disproportionately people of color — are likely to feel the squeeze the most, writes senior research associate Yonah Freemark in the organization's Urban Wire blog post.

Higher prices for gas and rent are shrinking these families' budgets for other daily needs, like food.