Wages are “sticky”, and do not adjust as fast as prices for goods and services, and certainly don’t change much MoM/QoQ outside maybe a few niche industries.
That’s the problem with high or relatively high inflation.
The professor is correct, though, that consistent and predictable inflation is at least less bad than inconsistent and unpredictable inflation.
That’s the problem with high or relatively high inflation.
The professor is correct, though, that consistent and predictable inflation is at least less bad than inconsistent and unpredictable inflation.