Prices of daily necessities sky-rocketing

When Esther went for her jab yesterday, our GP mentioned to us that milk powder prices were on the rise due to the price of its raw materials shooting up by as much as 50%. As if that was not enough, the evening news reported about price increases of Lunar New Year items vis-a-vis last year. Somehow or rather, we hear of the economy doing well, unemployment at an all-time low of less than 2% makes me wonder if the economy IS really doing well or it is just a cover-up. Analysts predicted a slowdown in the US economy and oil prices set to rise further. But do we see the proportionate increase in our wages in order for us to cope?