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Wage-Push Inflation

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Wage-push inflation
Inflation caused by skyrocketing wages.
Wage-Push Inflation
Inflation caused by increased costs as a result of higher wages. To give an extreme example, suppose a state raises its minimum wage from $5 per hour to $30 per hour. In order to be able to pay workers, an employer is forced to significantly increase the prices on his/her products. This in turn makes goods and services more expensive, and the $30 per hour suddenly lacks the purchasing power it had when the minimum wage was $5 per hour. Soon, it is no longer sufficient to purchase necessary goods and services and the minimum wage must be raised again. The cycle starts over, creating an inflation spiral.
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Wage restraint continued and, coupled with productivity improvements, held down unit labor costs and minimized the onset of wage-push inflation.
Consumer prices in the 1980's: the cooling of inflation by Jackman, Patrick / Monthly Labor Review
No sign of wage-push inflation The low pay-increase percentages also show no sign of wages pushing inflation rates, King said.
Low pay raises bottom out in state; six-year decline in salary ... by Business Wire
 
 
 
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