Wage spirals: the nightmare scenario : The Indicator from Planet Money The latest inflation numbers are out, and prices are up 6.4% from a year ago. This, coupled with an increase in wages compared to last year, may have some economists concerned about a possible wage spiral.

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Unwinding the wage-price spiral

Unwinding the wage-price spiral

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Men work at a distribution station in the 855,000-square-foot Amazon fulfillment center in Staten Island, one of the five boroughs of New York City, on February 5, 2019. - Inside a huge warehouse on Staten Island thousands of robots are busy distributing thousands of items sold by the giant of online sales, Amazon. (Photo by Johannes EISELE / AFP via Getty Images) JOHANNES EISELE/AFP via Getty Images hide caption

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JOHANNES EISELE/AFP via Getty Images

Men work at a distribution station in the 855,000-square-foot Amazon fulfillment center in Staten Island, one of the five boroughs of New York City, on February 5, 2019. - Inside a huge warehouse on Staten Island thousands of robots are busy distributing thousands of items sold by the giant of online sales, Amazon. (Photo by Johannes EISELE / AFP via Getty Images)

JOHANNES EISELE/AFP via Getty Images

Prices are up – again. The latest numbers from the CPI, or Consumer Price Index, show a 6.4% increase in prices over the last year. With wages also growing (at least before inflation) are we at risk of a wage-price spiral, where both wages and prices continue to rise in perpetuity?

We ask two economists whether this nightmare scenario is keeping them up at night — or if it's all just a scary bedtime story.

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For sponsor-free episodes of The Indicator from Planet Money, subscribe to Planet Money+ via Apple Podcasts or at plus.npr.org.