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Inflation far outpaced economist expectations, spiking to a new 40-year high of 9.1% in June, a staggering number that helped drive down the real average hourly earnings for all employees from May to June by a full 1.0%.
Last year, the Centers for Medicare and Medicaid Services (CMS) announced an historic 14.5% increase in Medicare Part B premiums.
The majority of Americans feel they are “falling behind” as the cost of living continues to rise, according to newly released polling.