Inflation is outpacing wages again. Many workers were already behind.

Wages are falling behind inflation again, and many workers never fully recovered from the big price surge in 2021–22 — so paychecks feel tighter than they did a few years ago.
Rising oil and gas prices after the Iran war helped push inflation above typical annual raises, effectively shrinking workers’ purchasing power as companies stick to standard small raises.
Changing jobs tends to boost pay enough to keep up with inflation, but that option is disruptive and costly for many, which helps explain why people stay put despite feeling squeezed.