Inflation Hits 3-Year High, Squeezing New Yorkers Hard

Over the last 9 or so months, Americans from sea to shining sea have been trying to navigate the new normal when it comes to various national policies. Like anytime there is a national election, you can expect to have some things change in our country; from social policies to economic policies, however, most people didn't think they would see as many things change in such a short time.

One of the things that has had the most impact on people's everyday lives has been the changes in the prices of things.

From gasoline to clothes and food to cars, we've seen quite a few things become more expensive over the last 6-to-9 months, which is really starting to squeeze people even more.

Nationwide Inflation Hits 3-Year High, Hurting New Yorkers

Whether it's from uncertainty in the global trade markets or America's new tariff policy, Americans from California to Maine are seeing increased costs across the board.

READ MORE: Electric Rates Going Up Across New York State

New data that has been released by the U.S. Bureau of Labor Statistics shows that core inflation, as measured by the Consumer Price Index, has hit a 3-year high of 3.1%. This figure is well above the Federal Government's target of just 2% and is even more than it increase last month, which was 2.9%

These increases come as extra pressure is being placed upon the Federal Reserve to bend to the will of the President's administration. People like Fed Chairman Jerome Powell have a general don't panic policy when economic news isn't good, but it's clear something has to be done.

Get More In-Depth On Inflation In New York

One thing is for certain: the middle class in New York is getting squeezed as the price of everything increases, but corporate America is not increasing incomes to keep pace.