US wages rose at a solid pace this summer, posing challenge for Fed’s inflation fight

By CHRISTOPHER RUGABER
AP Economics Writer

WASHINGTON (AP) — Wages and benefits grew at a slightly faster pace in the July-September quarter than the previous three months, a benefit to workers that also represents a risk to the Federal Reserve’s fight against inflation. Compensation as measured by the Employment Cost Index increased 1.1% in the third quarter, down from a 1% rise in the April-June quarter, the Labor Department said Tuesday.