Inflation

Inflation has been low for so many years that most people under 50 don't know what it is. The most common type of inflation during the post war years was wage/price inflation. The prices would rise and wages would follow. The solution to that was increased productivity and that has happened primarily because of technology. Between 1980 and today productivity increased 70% but wages only increased 12%. Over these 39 years wages increased only .3% per year. This has finally turned around with over 3% increases over the past two years. If wages keep increasing at this rate then wage/price inflation will return.