That inflation means decreased real wages is elementary and doesn't need a source support the statement. It completely misses the point, however. What is neede

That inflation means decreased real wages is elementary and doesn't need a source support the statement. It completely misses the point, however. What is needed to have a strong, growing economy with increasing prosperity for more than the one percent isn't high or low inflation, but stable price levels that makes it possible to plan for the long term and make investments into productivity and efficiency. When witch doctors in the Fed, ECB and BoJ arbitrarily manipulate interest rates and thereby inflation, they promote speculation over investment and move wealth to the 0.01%.