Is increase in minimum wage a good method to fight inflation?

[bubilas]

Over time, I've heard discussions about inflation and the rising cost of goods and services across almost every sector on the world economy.
However, suggestions have been made in various ways on how best to tackle the menace called Inflation. Recently I have personally thought that one of the ways to fight inflation in an economy is to increase minimum wage. More so there has been a back and forth argument on these, as some persons argue that the increase in minimum wage will rise the bar on commodities, because they feel hence you increase the purchasing powers, it will have a multiplier effect on the economy which might be challenging.

So guys, is increase in minimum wage not a good measure to fight inflation. Let's have your opinion.

The thing is that nobody knows the real inflation. It turns out that only professional economists from the government know it, but they can easily lie to us that inflation is lower than the actual one. And this is terrible, because only by the difference in food prices can we guess about the real inflation in the country where we live.

[milewilda]

Over time, I've heard discussions about inflation and the rising cost of goods and services across almost every sector on the world economy.
However, suggestions have been made in various ways on how best to tackle the menace called Inflation. Recently I have personally thought that one of the ways to fight inflation in an economy is to increase minimum wage. More so there has been a back and forth argument on these, as some persons argue that the increase in minimum wage will rise the bar on commodities, because they feel hence you increase the purchasing powers, it will have a multiplier effect on the economy which might be challenging.

So guys, is increase in minimum wage not a good measure to fight inflation. Let's have your opinion.

The thing is that nobody knows the real inflation. It turns out that only professional economists from the government know it, but they can easily lie to us that inflation is lower than the actual one. And this is terrible, because only by the difference in food prices can we guess about the real inflation in the country where we live.

If you are an individual who isnt really that knowledgeable into those things which are economic-related then it would really be just that right or something sensible to be done that you shouldnt really be
that making yourself be left being uninformed or something that missed out those important information in correlated to it. If you arent that knowing on what inflation is, then researching it up would really be
that recommended thing to be done so that it would really be broaden up your knowledge and it would really be helping you out to be wary at least on the things that you would really be that doing into.
Inflation do hits hard into places on which we know that it is always included up on the list into those countries which does have that inflation rate and its getting worst year by year.

So for personal point of view then it would really be that understandable that you would really be needing to act fast for you to be able at least make yourself having that kind of steps taking
to fight such struggle via having another some income source then it would really be that understandable that you should really be mindful about such thing.
We do know that not all would really be mindful about into their condition and would really be that remain contented on the current struggles that they are into and not
really making some steps that making themselves to be on a better condition.

[Spaceman1000$]

Over time, I've heard discussions about inflation and the rising cost of goods and services across almost every sector on the world economy.
However, suggestions have been made in various ways on how best to tackle the menace called Inflation. Recently I have personally thought that one of the ways to fight inflation in an economy is to increase minimum wage. More so there has been a back and forth argument on these, as some persons argue that the increase in minimum wage will rise the bar on commodities, because they feel hence you increase the purchasing powers, it will have a multiplier effect on the economy which might be challenging.

So guys, is increase in minimum wage not a good measure to fight inflation. Let's have your opinion.

The thing is that nobody knows the real inflation. It turns out that only professional economists from the government know it, but they can easily lie to us that inflation is lower than the actual one. And this is terrible, because only by the difference in food prices can we guess about the real inflation in the country where we live.

Most citizens know about inflation, in fact is not only the professional economist from the government that knows about inflation. Inflation is felt by every citizen, because it reduces the purchasing powers of the citizens and that will cause a multiplier effect on the economic safety of any country, professional will only give empirical analysis of of the numbers, which can be studied by anybody hence data's are released. There are lots of strategies to use when measuring inflation, so it's not only when we see rising in food prices that we know that there is inflation, although that is a major determinant but not the only measure, as devaluation on countries currency can lead to inflation.

[Hatchy]

So guys, is increase in minimum wage not a good measure to fight inflation. Let's have your opinion.

If the economy is still struggling, raising the minimum wage may not make a big difference. Government workers will still spend the same amount of their salary on basic needs like food, maintenance, and other essential expenses, despite the increase. A weak economy won't benefit much from a higher minimum wage. In this scenario, the government should focus on fixing the failing sectors and re-evaluating their approach. Many governments in countries with poor economies know how to address the major issues but often ignore them, leaving the people to suffer the consequences of their inaction.

[Ishicryptic]

Over time, I've heard discussions about inflation and the rising cost of goods and services across almost every sector on the world economy.
However, suggestions have been made in various ways on how best to tackle the menace called Inflation. Recently I have personally thought that one of the ways to fight inflation in an economy is to increase minimum wage. More so there has been a back and forth argument on these, as some persons argue that the increase in minimum wage will rise the bar on commodities, because they feel hence you increase the purchasing powers, it will have a multiplier effect on the economy which might be challenging.

So guys, is increase in minimum wage not a good measure to fight inflation. Let's have your opinion.

Increasing minimum wage for workers is a good way for the government to improve the living conditions of their workers so that their purchasing power can increase. But if the increase of minimum wage for workers is solely based on inflation in their country, then it will not be a lasting solution but a mere palliative on a temporary basis. The effect of increase in the minimum wage of workers because of high cost of living in the country will eventually make the cost of living to become higher because the prices of goods and services will automatically increase, business people who are also facing hardship will want to leverage on the workers salary increase and increase their prices. To solve the problem of inflation in any country, the government needs to focus on the root causes of the inflation, without tackling it, salary increase will just be circulating more money in the macroeconomics of the country without any tangible solution to the problem.

The government of my country recently increased the minimum wage of workers in the country because of the rising cost of commodities in the market but it didn't cushion the effect of inflation. The root causes of inflation in the country is due to our over reliance on foreign goods, the country imports more than it exports, therefore our fiat keeps losing value. Unless they tackle the root cause of the fiat devaluation, adding money to workers salary will not help them.

[bubilas]

Over time, I've heard discussions about inflation and the rising cost of goods and services across almost every sector on the world economy.
However, suggestions have been made in various ways on how best to tackle the menace called Inflation. Recently I have personally thought that one of the ways to fight inflation in an economy is to increase minimum wage. More so there has been a back and forth argument on these, as some persons argue that the increase in minimum wage will rise the bar on commodities, because they feel hence you increase the purchasing powers, it will have a multiplier effect on the economy which might be challenging.

So guys, is increase in minimum wage not a good measure to fight inflation. Let's have your opinion.

I think that raising wages won't help much in the fight against inflation. I recently heard the term "smart money" and I liked it, its meaning is how the population spends its money. Sending it abroad to buy an iPhone or investing it in investments or business in your country?
It's a big difference and I think you agree with me. It's a shame that the state doesn't care about the economic education of the population. It's simply not profitable for the state.

[Minor Miner]

So guys, is increase in minimum wage not a good measure to fight inflation. Let's have your opinion.

If the economy is still struggling, raising the minimum wage may not make a big difference. Government workers will still spend the same amount of their salary on basic needs like food, maintenance, and other essential expenses, despite the increase. A weak economy won't benefit much from a higher minimum wage. In this scenario, the government should focus on fixing the failing sectors and re-evaluating their approach. Many governments in countries with poor economies know how to address the major issues but often ignore them, leaving the people to suffer the consequences of their inaction.

Of course, raising the minimum wage is not the solution to stopping inflation. But raising the minimum wage could make people feel less pressure in their lives if the government can stabilize prices and prevent them from rising too quickly.

In my opinion, increasing wages is like a double-edged sword. It may be effective in the short term, but in the long term, there will be risks and things will get worse if the government does not find out the cause of inflation and does not fix it. But we need to know that solving inflation is not easy, especially with imported goods because we will depend on other countries. So we should not completely blame the government when they cannot stabilize the prices of goods and instead they have no choice but to increase wages.

[Oluwa-btc]

Over time, I've heard discussions about inflation and the rising cost of goods and services across almost every sector on the world economy.
However, suggestions have been made in various ways on how best to tackle the menace called Inflation. Recently I have personally thought that one of the ways to fight inflation in an economy is to increase minimum wage. More so there has been a back and forth argument on these, as some persons argue that the increase in minimum wage will rise the bar on commodities, because they feel hence you increase the purchasing powers, it will have a multiplier effect on the economy which might be challenging.

So guys, is increase in minimum wage not a good measure to fight inflation. Let's have your opinion.

Increase in minimum wage is not a good method of fighting inflation in the society rather it does the reverse by increasing the inflation rate by 5%,let me explain this.

Before now the rate of things are extremely high and the tendency of people purchasing things is 50% except for the ones that are highly well to do and yet the wage of a  worker is still at the normal rate,some can afford what they want while some can't so trying to increase the minimum wage for them will not make everyone happy and at balance,rather with the fat that it's been increased the price of goods and services will increase tremendously as well making it more difficult and fustrating like it shouldn't have.

[legendbtc]

The thing is that nobody knows the real inflation. It turns out that only professional economists from the government know it, but they can easily lie to us that inflation is lower than the actual one. And this is terrible, because only by the difference in food prices can we guess about the real inflation in the country where we live.

Most citizens know about inflation, in fact is not only the professional economist from the government that knows about inflation. Inflation is felt by every citizen, because it reduces the purchasing powers of the citizens and that will cause a multiplier effect on the economic safety of any country, professional will only give empirical analysis of of the numbers, which can be studied by anybody hence data's are released. There are lots of strategies to use when measuring inflation, so it's not only when we see rising in food prices that we know that there is inflation, although that is a major determinant but not the only measure, as devaluation on countries currency can lead to inflation.

Inflation directly affects the prices of goods and we are the consumers of goods, so we are the ones who are affected the most. So it is naive to say that no one knows about inflation. But with limited knowledge, many people find no solution to deal with inflation other than working more and saving more.

My parents also know about inflation and they say that money is losing value but when I asked them what to do they said to try to save more. I don't blame them because I understand that they sacrificed their whole lives to raise me and their lack of financial and economic understanding is understandable.

Among the many solutions to control inflation proposed by the Government, increasing wages is one of them and in my opinion, this solution will have an impact but is only a temporary solution, not the most effective solution. But after all, we have no solution that can completely control inflation, the government is just trying to slow inflation down to the lowest level possible. That means the inflation time bomb will explode one day and the economy will be reset from scratch.

[slapper]

~snip~

Of course, raising the minimum wage is not the solution to stopping inflation. But raising the minimum wage could make people feel less pressure in their lives if the government can stabilize prices and prevent them from rising too quickly.

In my opinion, increasing wages is like a double-edged sword. It may be effective in the short term, but in the long term, there will be risks and things will get worse if the government does not find out the cause of inflation and does not fix it. But we need to know that solving inflation is not easy, especially with imported goods because we will depend on other countries. So we should not completely blame the government when they cannot stabilize the prices of goods and instead they have no choice but to increase wages.

Increasing the minimum wage is more of a band-aid solution than a cure. While it provides a temporary move, it does not address the underlying issues. You can't just throw money at inflation and expect it to go awa

Although it is simple, blaming the government is lazy thinking. They do not possess perfect power. Globally, import costs, these are complicated issues. It's like blaming the referee for a poor game; occasionally, the ball bounces just the way it should

Individual finance? That is where the rubber runs across the ground. Although first they seem great, inflation consumes it faster than you could say "cost of living". It's a treadmill, and we're all running on it

We have to consider larger picture. This relates to human behavior as much as economics. It's about realizing how markets respond and how worldwide trade shapes us. It's time to run the figures and replicate the long-term effects of our decisions. It's time to stop responding and begin to plan

[stadus]

Over time, I've heard discussions about inflation and the rising cost of goods and services across almost every sector on the world economy.
However, suggestions have been made in various ways on how best to tackle the menace called Inflation. Recently I have personally thought that one of the ways to fight inflation in an economy is to increase minimum wage. More so there has been a back and forth argument on these, as some persons argue that the increase in minimum wage will rise the bar on commodities, because they feel hence you increase the purchasing powers, it will have a multiplier effect on the economy which might be challenging.

So guys, is increase in minimum wage not a good measure to fight inflation. Let's have your opinion.

The thing is that nobody knows the real inflation. It turns out that only professional economists from the government know it, but they can easily lie to us that inflation is lower than the actual one. And this is terrible, because only by the difference in food prices can we guess about the real inflation in the country where we live.

Certainly yes. No one has anticipated that we will be struggling with real inflation these days. And I guess the only left option is to increase our minimum wage or increase our sources of income. That way, since there are no chances to beat with this inflation, but at least we won't be highly struggling in sustaining all our basic needs especially that we really need to buy them for our own survival. Increasing our minimum wage is the best option, most particularly for those who only rely on their job for their survival.

[letteredhub]

So guys, is increase in minimum wage not a good measure to fight inflation. Let's have your opinion.

If the economy is still struggling, raising the minimum wage may not make a big difference. Government workers will still spend the same amount of their salary on basic needs like food, maintenance, and other essential expenses, despite the increase. A weak economy won't benefit much from a higher minimum wage. In this scenario, the government should focus on fixing the failing sectors and re-evaluating their approach. Many governments in countries with poor economies know how to address the major issues but often ignore them, leaving the people to suffer the consequences of their inaction.

quote]When people talk about government increasing the country's minimum wages as means to curb inflation they often neglect the private sector not putting them into consideration how they can meet up with affording to pay in the new increment to their employees. They are also faced with the inflation in the country which is affecting businesses negatively. Those in the  private sector suffers mostly in a weak economy even as they still have to pay their taxes and royalties to the government. If Government knowing the right actions to take to address the failing economic conditions of the country only gives the notion that those in government might be benefiting from the inflation on the country and don't want it to end anytime.

[Qiubell5]

Certainly yes. No one has anticipated that we will be struggling with real inflation these days. And I guess the only left option is to increase our minimum wage or increase our sources of income. That way, since there are no chances to beat with this inflation, but at least we won't be highly struggling in sustaining all our basic needs especially that we really need to buy them for our own survival. Increasing our minimum wage is the best option, most particularly for those who only rely on their job for their survival.

at least it will take quite a long time to recover, your opinion is correct, the need to increase the minimum wage, but that is not the only way out to overcome this inflation, there are still many other ways, the need to comprehensively fix the causes of this inflation, by increasing production results it can also reduce the inflation that occurs.

[Huppercase]

The thing is that nobody knows the real inflation. It turns out that only professional economists from the government know it, but they can easily lie to us that inflation is lower than the actual one. And this is terrible, because only by the difference in food prices can we guess about the real inflation in the country where we live.

I'm not sure about that, the government knows and understand the real inflation, In fact they know the lapses and know where to fix but it's either that they are been clueless and doesn't want to do the right thing or they think that it will affect their own policy that wouldn't favour them so they will cut numbers so people will think that the economy is not as bad as it were portray in the media, such makes people calm even though the economy is sinking.

If real value of inflation are been determined and put put there, do you think the purchasing power of currency would be were they are right now after many years. They would have remain the way it were in 1990 and early 2000 but the currencies doesn't have that value again and all are from the effect of inflation that the government couldn't control which is what we are facing here today.

[CK485]

quote]When people talk about government increasing the country's minimum wages as means to curb inflation they often neglect the private sector not putting them into consideration how they can meet up with affording to pay in the new increment to their employees. They are also faced with the inflation in the country which is affecting businesses negatively. Those in the  private sector suffers mostly in a weak economy even as they still have to pay their taxes and royalties to the government. If Government knowing the right actions to take to address the failing economic conditions of the country only gives the notion that those in government might be benefiting from the inflation on the country and don't want it to end anytime.

Although the government has tried to improve the inflation rate that has occurred, by implementing policies that continue to improve, in fact other sectors have been affected, it is necessary to study it more deeply before making a decision to overcome this inflation.

[erep]

Certainly yes. No one has anticipated that we will be struggling with real inflation these days. And I guess the only left option is to increase our minimum wage or increase our sources of income. That way, since there are no chances to beat with this inflation, but at least we won't be highly struggling in sustaining all our basic needs especially that we really need to buy them for our own survival. Increasing our minimum wage is the best option, most particularly for those who only rely on their job for their survival.

The government must issue a new regulation to increase the minimum wage as an effort to adjust the price of goods and services that are increasing due to inflation, increasing the minimum wage will help people to finance their living expenses and they can work in their main jobs without having to look for other job opportunities. A wise government will immediately take important actions to stabilize their economy from the impact of inflation but a bad government will not care about the economic life of the people and delay the decision to increase the minimum wage. I hope the government will immediately legalize the new regulation because I am very sad to see the lower economic class screaming to find funds to survive in the current worst economic era.

[eightdots]

~snip~

Of course, raising the minimum wage is not the solution to stopping inflation. But raising the minimum wage could make people feel less pressure in their lives if the government can stabilize prices and prevent them from rising too quickly.

In my opinion, increasing wages is like a double-edged sword. It may be effective in the short term, but in the long term, there will be risks and things will get worse if the government does not find out the cause of inflation and does not fix it. But we need to know that solving inflation is not easy, especially with imported goods because we will depend on other countries. So we should not completely blame the government when they cannot stabilize the prices of goods and instead they have no choice but to increase wages.

Increasing the minimum wage is more of a band-aid solution than a cure. While it provides a temporary move, it does not address the underlying issues. You can't just throw money at inflation and expect it to go awa

Although it is simple, blaming the government is lazy thinking. They do not possess perfect power. Globally, import costs, these are complicated issues. It's like blaming the referee for a poor game; occasionally, the ball bounces just the way it should

Individual finance? That is where the rubber runs across the ground. Although first they seem great, inflation consumes it faster than you could say "cost of living". It's a treadmill, and we're all running on it

We have to consider larger picture. This relates to human behavior as much as economics. It's about realizing how markets respond and how worldwide trade shapes us. It's time to run the figures and replicate the long-term effects of our decisions. It's time to stop responding and begin to plan

When governments increase the minimum wage to combat inflation, production costs also increase. Increasing production costs means increasing prices. Increasing prices is one of the things that causes inflation. This may not be the same in every country, but in some countries, increasing the minimum wage or salary causes the prices of many things to increase. This is wrong and a situation where the government should intervene.

For example, a business pays its employees more as a result of increasing the minimum wage and increases the products it sells to recover this salary expense. Both the employees and everyone else are affected by this increase. When governments fight inflation, instead of increasing salaries or minimum wages at certain times, they should find ways to stop inflation and keep prices down because when minimum wages and salaries increase, the prices of everything indirectly increase.

As I said above, this is not the same in every country, but it is the case in many countries.

[aylabadia05]

I am not saying that increasing the minimum wage is the government's way of fighting inflation, but this increase in the minimum wage must be considered as a solution so that every wage earner is not too affected by inflation.

If the government never considers increasing the minimum wage, then it is certain that whoever receives this salary will never be able to meet their monthly needs from the salary they receive. Rising prices of goods mean that money is no longer worth as much, so increasing the minimum wage is just a solution that should be considered.

[Roseline492]

I am not saying that increasing the minimum wage is the government's way of fighting inflation, but this increase in the minimum wage must be considered as a solution so that every wage earner is not too affected by inflation.

If the government never considers increasing the minimum wage, then it is certain that whoever receives this salary will never be able to meet their monthly needs from the salary they receive. Rising prices of goods mean that money is no longer worth as much, so increasing the minimum wage is just a solution that should be considered.

What you are saying is correct because the reason of any government to increase there minimum wages is not to fight inflation but instead they only use that method to balance the system abit in such a way that every monthly salary should be able to worth something tangible for the person because we all no what inflation in a country is all about and it seriously involves higher price of commodities as such making it very difficult for people to afford, imagine when a month salary of someone cannot afford food stuff that can last for the person at least a month, so the idea of increasing the minimum wages is a good measure to help there citizens reduce things a bit, though most of the people believe that the idea of the government on increasing minimum wage is to fight inflation but that's not it.

[SmartGold01]

I am not saying that increasing the minimum wage is the government's way of fighting inflation, but this increase in the minimum wage must be considered as a solution so that every wage earner is not too affected by inflation.

If the government never considers increasing the minimum wage, then it is certain that whoever receives this salary will never be able to meet their monthly needs from the salary they receive. Rising prices of goods mean that money is no longer worth as much, so increasing the minimum wage is just a solution that should be considered.

It would help but that much to be considered because judging how much do you think that would be increased to reduce or eliminate inflation? Even though every civil servants minimum wage is being doubled x2 or 3x you think it would still solve the underlying problems out there, to me this won't help either but the important thing to do is to raise and trained a body that could help to monitor the price of goods and commodities, and government should set a specific amount and price for some times to be sold and this body or agency are the people to keep watching the prices of goods and whatever items in the market being stores and malls when the prices are unbearable then the agency has to sanction such company or mall or such entity to know why the sudden increase on their products.

With this even though government decided to increase minimum wage it would also help and that payment will be worth enough and could also reduce inflation. But if not handled and went to increase minimum wages, the price of good and commodities would also doubled as well at then it will seems nothing was done by government and yet the problems not still solved.