> if inflation is indeed rampant but wages track inflation (I assume) There's no direct mechanism that ratchets wages as a result of inflation. Average wages

> if inflation is indeed rampant but wages track inflation (I assume) There's no direct mechanism that ratchets wages as a result of inflation. Average wages increase when the labour market is tight and there is demand for workers. However that generally applies to new applicants, not people in existing posts. For them, static wages lead to purchasing-power reduction.