How will the economic crunch end?

Question

Obviously people's salaries are not going up (except those who earn min. wage), yet prices are increasing very rapidly from gasoline, to food, all other retail sales, all the way to monthly utilities. If people are not getting raises, except maybe in January when they get a little cost of living increase. How exactly will this all level out? I know that gas stations have begun to lower the price at the pump, but it will never be as low as it was a few years ago. Food prices may drop a little, but they'll never be the same they were before either. So how can it all level out?

Please do not compare it to the 70s/80's because I was way too young to have a clue what was going on with the econ. back then.

Answer 1

It may not level out. But more likely, wages will adjust to inflation.