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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.

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Good points. I think the point he was trying to make (or the one I recall, at least) was that higher inflation tends to result in more volatile price moments which damages economies more severely than that of cost increases outpacing earning power.

I do agree with you though, wages being generally sticky would make any moderate inflation, even predictable, a considerable negative on the economic fortunes of most individuals.

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