Economy articles
Are wages keeping up with inflation?
Yes. From June 2025 to June 2026, wages grew 0.29 percentage points faster than inflation. Nominal wages — the literal dollars earned regardless of cost of living — increased by 3.8% while inflation stood at 3.5%. When wage growth outpaces inflation, it indicates that workers are experiencing an increase in purchasing power from the previous year.
What is the current inflation rate in the US?
The inflation rate was 3.5%, as of June 2026. Inflation refers to the rise in prices of goods and services over time, which reduces the purchasing power of the dollar. The inflation rate is the percentage that describes how quickly these prices are rising. While several government datasets track price changes, the Consumer Price Index (CPI) represents about 90% of the US population. The CPI measures inflation by tracking the price fluctuations of a “basket of goods and services” over time, providing a clear picture of how inflation affects everyday living expenses.
How has inflation affected your dollar?
Inflation, simply put, is the rise in prices over time. As a result, each dollar buys less than it did before. Use this inflation calculator below to track the value of the dollar. See how a dollar has changed in worth during your lifetime, or even as far back as 1913, when the data begins. Or reverse the numbers and track what the cost of an item today was worth in the past.
What are the biggest drivers of inflation in the past year?
Housing was the main driver of inflation from June 2025 to June 2026. As of June 2026, overall prices increased 3.5% over the previous year. Of this, 1.5 percentage points came from price increases in housing, or about two-fifths of it.The inflation rate is calculated using the Consumer Price Index (CPI), which tracks the price changes of a consistent basket of goods and services over time. Each item in this basket is given a weight that reflects how much the average urban household spends on it. Items with higher weights, like shelter, tend to have a greater impact on the overall inflation rate than other categories. By examining the price changes across different categories, we can better understand the factors contributing to the current inflation rate.
What is the money supply, and how does it relate to inflation?
How much money is there? The Federal Reserve keeps track.
How much is spent on personal healthcare in the US?
National spending on personal healthcare per person has increased 1,306% since 1980 — over three times faster than inflation. More than $4.5 trillion total was spent in 2024.
Why might prices feel high if inflation is slowing?
Inflation is down, but three in four Americans are still concerned about coming price increases.
How will the Inflation Reduction Act change the IRS?
The Inflation Reduction Act would double the number of employees and expand the auditing capacity of the IRS.
What is inflation and how is it measured?
One of the most common economic indicators helps contextualize how much a dollar can buy.
How did the Inflation Reduction Act of 2022 change corporate taxes?
The Joint Committee on Taxation estimated that about 150 corporations would be subject to a new minimum corporate tax each year.
The history and impact of the Federal Reserve
The Federal Reserve may be the most important bank you never use. But why is it called a “bank”, how is it governed, and how does it influence daily life in the US? In this episode of Just the Facts, Steve Ballmer tells you everything you need to know about the Federal Reserve Bank of the United States.
Just the Facts about the US economy
How does the government measure the economy? By tracking GDP, unemployment numbers, and the prices people pay for goods and services.
What is the average price of beef in the US?
As of May 2026, the average price of ground beef nationwide was $6.75 per pound. This figure comes from the Bureau of Labor Statistics' (BLS) Average Price data, which tracks the cost of specific items commonly purchased by US households. BLS also tracks broader categories containing many products through the Consumer Price Index (CPI). The CPI category "beef and veal," which includes ground beef along with steaks, roasts, and other cuts, rose 12.9% over the past 12 months.
How much does Medicare cost the federal government?
The federal government spent about $1.21 trillion on Medicare in 2025. Spending on Medicare, a federally run health insurance program primarily for people 65 and older, came out to $18,900 per beneficiary or $3,500 for every person in the US.
What is the gross domestic product (GDP) in the US?
The gross domestic product (GDP) was $24.3 trillion in Q2 2026. GDP measures the value of goods and services a country or state produces — it’s the sum of consumer spending, business investment, government spending, and net exports. It is often used to quantify the size of its economy. The $24.3 trillion is the “real GDP,” which is adjusted to account for inflation to make it easier to compare the size of an economy over time.
How much does Medicaid cost in the US?
A combined $949.2 billion in state and federal spending in fiscal year (FY) 2024, the most recent data available. That’s about $2,800 for every person living in the US. As a health insurance program for low-income individuals, Medicaid is jointly funded by both levels of government, with the federal government covering the larger share.
What the Personal Consumption Expenditures Index (PCE) says about the US
Closely monitored by the Federal Reserve, personal consumption expenditures are an economic indicator that provide greater insight into how Americans earn, save, and spend.
How much debt does the average person in the US owe?
Americans owe $63,500 in debt on average, as of the first quarter of 2026. Compared to the previous quarter (October through December 2025), the average adult owed $870 less after adjusting for inflation, reflecting slight shifts in household borrowing patterns. This debt, often referred to as “household debt,” represents the total amount owed by individuals for obligations such as mortgages, student loans, credit cards, and auto loans.
What is the gender pay gap in the US?
Women made about 82 cents for every dollar men made as of the second quarter of 2026. This means that men with full-time jobs typically make 21% more than women in full-time jobs. This ratio compares the median weekly pay of full-time workers—people who usually work 35 hours or more each week.
How much revenue does the federal government collect from tariffs?
The federal government collected $194.9 billion in revenues from tariffs in FY 2025. This figure reflects revenue from tariffs and other import-related fees, also known as customs duties. Customs duties are taxes and fees paid by US importers and collected by US Customs and Border Protection on goods imported into the country, which generate revenue for the federal government.