Inflated incomes, growth and inflation

There is a new dimension to the inflation conundrum. A thought that comes to mind is whether higher prices have also been driven by higher incomes. This is so because, so far, we are talking of cost-push or demand-pull inflation as the causes; and debates, if not policies, have been geared towards this direction. But if incomes or the classic wage-push forces have played their role, then we need to think differently as our growth model has to be reviewed as it affects future scenarios.

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