"In its latest contract offer, Frito-Lay has said it would raise wages by four percent over the next two years" Consumer price index has risen 4.5% since June

"In its latest contract offer, Frito-Lay has said it would raise wages by four percent over the next two years" Consumer price index has risen 4.5% since June of last year. With Biden planning similar amounts of printing, it's likely this trend will continue. What Frito-Lay is actually saying here is that they will cut employee's purchasing power by 5.2% over the next two years if that amount of inflation holds.