Wages do not cause inflation but they do eat into profits. And profit, the unpaid labour of the working class, is the lifeblood upon which all the parasitic layers of society depend—from bankers, to bosses, to central bankers. The wage-price spiral is not a serious model; it’s a tale told to frighten workers out of threatening profit.
No shit, the jump in prices wasn’t because suddenly Canadians had all kinds of cash to throw around and they were out bidding each other for groceries. COVID showed businesses exactly how far they can gouge without uprising or government intervention.