[bennofs]

I am no economist but couldn't it be that raising pay in few sectors does not cause inflation? I would think that depends on what the people receiving more money spend it on. If they only spend it on things where we have no bottleneck and there is still excess capacity, how would that create inflation? Inflation should only happen if the increased paycheck is used to compete for scarce resources/products. So I think predicting inflation requires a more detailed analysis, especially you need to have a cycle of increased prices and pay.