Industries with Rising Paychecks Amidst Lowest Inflation in Two Years

Consumer prices in the US rose 4.9% in April, the first time annual inflation has landed below 5% in two years. Food prices climbed just 7.7% over the 12-month period, the eighth-straight month of slower price growth in that category. However, the "core" inflation reading for April, which excludes volatile food and energy prices, increased 5.5% on the year. Rising wages and ongoing demand are keeping inflation high, despite the Federal Reserve's interest rate hikes. Economists say more "demand destruction" is needed to reduce inflation.