Which is particularly egreggious if you consider that wages were going up because of a tightening labour market, ie people retiring early in the face of covid,

Which is particularly egreggious if you consider that wages were going up because of a tightening labour market, ie people retiring early in the face of covid, an uptick in long-term illness and disability, as well as excess deaths to the tune of a million people (so far). In that context, raising interest rates to combat "wage inflation" seems misguided.