Yes I agree, what wage inflation? I am experiencing wage deflation. All that will happen is people like me will be squeezed. Other people are enjoying large pay increases. All depends how in demand you are/your skills or whether you work for the public sector (i.e. banking).
Its funny how the switch from targeting RPI to CPI (to allow the housing boom to proceed with low interest rates) will bite Brown in the ass. CPI is dropping far more slowly than RPI. I expect CPI to really start going up if this flue pandemic takes off (especially price of pork). Surely, then the BoE would have to raise rates?
I wonder if face masks will be included in the basket of goods.