Inflation Outpacing Wage Growth For Over 40% Of Americans, Report Says By Antonio Pequeño IV, Forbes Staff. Pequeño is a breaking news reporter who covers tech and more.

While annual wage growth remains just above the annual rate of inflation, which grew to 2.7% in June, “the gap between the two is the narrowest it’s been in 12 months” Indeed added.

Price growth has cooled, including in key areas like groceries, but analysts say Trump's evolving trade war has made it harder to get a clear read on the economy.

Higher inflation is more common in a strong economy when consumer demand drives up prices. Stagflation offers the worst of both worlds: slow economic growth and steep prices.