2024 minimum wage increase led to modest price increases

Most of the recent increases in the minimum wage had no impact on inflation, report finds

There were no significant increases in prices in seven out of eight minimum wage increases since 2016.

2024 minimum wage increase led to modest price increases

The minimum wage increase which was implemented in 2024 led to some modest price increases, according to a new study from the ESRI.

Study shows impact of minimum wage increases on inflation

Increases in the minimum wage have had no effect on inflation, particularly in industries with large numbers of workers on the pay rate, a new study shows. For most of the minimum wage increases implemented since 2016, there was no detectable impact on prices, the ESRI found. However, the think-tank found the largest minimum wage […]