Hmmm... if you wanted some evidence that inflation is a function of profits rather than wages, how about this:

after supermarkets (and other retailers) scrambled to rebuild market share and sales and so have reduced prices over the last two months, inflation has dropped further....

The down-grading of the 'maintenance' of profits by major corporations, as had a pretty immediate impact.

The cost-of-living crisis is really a profit driven grab for your cash, folks!

#inflation
h/t FT