Why is the popular solution to this problem to increase wages? Shouldn't it be to stop inflating? Inflation is obviously damaging to the livelihood of individuals for the benefit of the State.
Higher income ranges are able to save by purchasing physical assets that can later be sold for inflated dollars. But, inflation is damaging to higher income purchasing power as well. There is just more breathing room in higher income ranges. Middle class becomes lower class unless they can manage to earn more.
Inflation is a loss for all but a few. Everybody becomes more poor through inflation with the exception of people closest to the new money. Those closest to new money get to spend it before prices increase.
Wages grow more than prices rise. It would be a better outcome for lower income ranges.