What does that mean? Persistent, broad-based inflation is usually a feedback loop where high prices both force employees to ask for raises to afford the cost of living and give employers the free cash flow to afford those raises, and then those raises mean there is more disposable income that can be captured by higher prices. It's "driven" by high labor prices in the same sense that the chicken came first. (And in almost all cases, just like the egg comes first, the price increases come before the wage increases.). But that's immaterial - it matters that we're seeing these wage increases and so there's a high chance that we're in a wage/price spiral already.