Incomes are rising in America, especially for the poorest

TL;DR

Incomes are rising in America, especially for the poorest But those in the middle, hit by inflation, have less to cheer about | WASHINGTON, DC Cardi B, better known for her punchy hip-hop than her economic analysis, recently observed that the price of a lettuce had soared to as much as $7.A closer look at the data points towards the more optimistic end of the spectrum, albeit with some big caveats.Media coverage about inflation typically focuses on the consumer-price index (CPI), a gauge of prices for a wide array of goods and services.An alternative measure, preferred by the Federal Reserve but not by headline writers (perhaps because of its ungainly name), is the personal-consumption-expenditure (PCE) price index.The lowest quintile of income earners see their tax bills shrink while also receiving more benefits, especially in the form of health insurance."

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