Atlanta Fed wage progress tracker falls to five% from 5.2%

The Atlanta Fed wage progress tracker has fallen to five% from 5.2% final month. The expansion charge is at its lowest degree since December 2021 when it reached 4.5%.

Trying on the chart above, the pre-pandemic inflation surge hig was close to 4% with the vary for decrease inflation between 3% and 4%. With ranges at 5% we’re nonetheless 100 foundation factors away from the excessive of that space.

Some Fed officers not too long ago have stated that wages stay too excessive for inflation to fall to 2%. This wage progress tracker is proof constructive with that view. There may be work to do.