Those looking for an explosion in either income and especially inflation did find what they were seeking in August.
The BEA’s Personal Income and Outlays Report for August has the details.
The BLS says core inflation is zero and year-over-year core inflation is 2.0%.
Your results may differ substantially especially if you buy your own health insurance, don’t have health insurance, are in school, are looking to buy a house, or live in a high rent area.
Curiously, a debate over where inflation should be is underway at the Fed and at central banks in general. For discussion, please see Rethinking the Fed’s 2% Inflation Target: Spotlight On an Absurd Debate.