Pricing Power Parity

Aug 17, 2023 | Bubble Monitor, No Bull Economics

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Commentary

  • Shouldn’t wages grow faster than prices? While that may be great for consumers, this would be inflationary as businesses pass on higher labor costs to their customers.
  • While an increase in labor productivity would represent the exception to this rule, it’s a good bet that there has not been a post-covid efficiency bump given well-known staffing challenges since the original lockdowns that left employees in the driver’s seat.
  • It seems that purchasing power parity, as indicated by the chart below, is a pretty good outcome.   
CPI vs Earnings Graph

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