Absolutely. Inflation isn’t just inflation, different things move at different rates, and that includes salaries.

But that’s why you want collective bargaining and an ongoing conversation about salaries, including periodic revisions of minimum wage regulations. We shouldn’t let oligarchs tell us that inflation is what degrades salaries, it’s the mismatch between salary growth and inflation. Inflation should be part of the calculation and salaries should be negotiated on a regular basis and regulated to prevent the system from breaking at the bottom.