What is the Price/Wage Spiral?

The wage-price spiral is a phenomenon in which a rise in wages causes a rise in prices and a rise in prices causes a rise in wages.

Wage-price spiral

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The wage-price spiral is a phenomenon in which a rise in wages causes a rise in prices and a rise in prices causes a rise in wages.
Rising wages and rising prices formed a spiraling upward movement, the so-called wage-price spiral.

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