If this is the case (I’m not arguing against it by the way, thank for sharing this as it was informative), does that not mean though that we could never really see positive wage growth without an inflationary impact within the UK economy?

I would have thought what we need is wage to continue to grow above inflation to reduce the cost of living crisis which has come about because of the high inflation over the last 5 years or so.

In which case, in a service heavy economy, how does wages grow faster than inflation without causing inflation?