Not sure this inflation is real. It seems like the higher prices are due to shortages. The company I work for still only gave 2% raises for everybody.
Prices can’t keep rising if people can’t pay.
Let’s say you own a business.
All of your costs are going up. Raw material, shipping, packaging, cleaning supplies, everything is going up 5 to 10%.
Now review time is coming. You are looking at the bleeding everywhere else, and realize you can’t pass the increases onto the customer.
Where are you going to get the savings the bank and investors demand? You limit raises. Hoping against hope they don’t jump to another job.
Wages are the last thing to rise. The price of lumber may go up and down, but a raise is forever. If the raise is less than the cost of inflation, it is a net gain to the bottom line.
I do things differently, but I also know my raise will be... less this year.