Wages definitely are not driving inflation, wages will never keep up very well nor catch up.
Prices will never come down, except in unusual circumstances like overblown bubbles in market-based commodities where the market controls the value more so than underlying utility.
This is what the FT noted was the paradox of the US dollar's strength.
The problem comes with the fact that the US dollar being the global currency of trade, means that everything is originally priced in US dollars, so the strength or weakness of the US dollar does not change the price.
Furthermore the US is somewhat self-sufficient in terms of trade in key inflation areas such as food, so the dollar is ending up hurting exporters and reducing corporates profits.
Other currencies?
Certainly not in what it will buy in the USA.
Wages definitely are not driving inflation, wages will never keep up very well nor catch up.
Prices will never come down, except in unusual circumstances like overblown bubbles in market-based commodities where the market controls the value more so than underlying utility.