"If wages go up 5%, and inflation goes up 10%," we gained nothing, of course. You're right about that. But I think you need to also think about other reasons for inflation. Oligarchs making more and more money by inflating prices, Stock holders taking profit out of what should be services to the American people. Scarcity of resources due to catastrophic events caused by climate change, pandemics, and war. I'll bet you can come up with even more reasons for inflation.