If wages increase, then there will be inflation. The cost of living will not increase if there is no inflation. Wages will increase. Therefore, the cost of living will increase.
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When inflation rises, borrowing money becomes very expensive. ... Usually, when inflation rises, your income also rises as there are adjustments based on cost of living. This is the case for anyone with a current income and also for those on Social Security. However, even with an increased income, expenses also rise.
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