Wage costs chase other costs.

They trail goods and energy inflation, and labor actually often ends up net-negative and then they cut spending, which causes the other prices to fall in line with the fall in consumption.

We're starting to see this now. It was merely delayed because consumers had access to credit and welfare, and didn't have to curtail spending.

Also, mass immigration pushes goods prices up and wages down (that's why governments like it). So, that compounds the bifurcation.