The economy absorbed a concentrated 2026 price shock—not a uniform decline.
Purchasing power improved through most of 2025, then reversed as March 2026 inflation reached 0.9% and real wages fell 0.6%. All 25 tracked foods cost more and revolving credit rose $53.3 billion, yet wholesale natural gas fell 14.41% and several unemployment rates retreated from spring peaks. The squeeze is concentrated in essentials and borrowing—not every part of the economy.