Wages and prices don't go up in tandem. Wages typically lag.
Let's say there was 10% inflation instantaneously today. Everything costs 10% more starting today. When does my paycheck increase? Not today. Probably not next pay period. Either when I get my annual cost of living increase, or when I can negotiate it to happen, or when my boss decides that the company really needs to take care of me. Whichever way it happens, it happens later.
Let's say there was 10% inflation instantaneously today. Everything costs 10% more starting today. When does my paycheck increase? Not today. Probably not next pay period. Either when I get my annual cost of living increase, or when I can negotiate it to happen, or when my boss decides that the company really needs to take care of me. Whichever way it happens, it happens later.