Let me tell you what some other people say, though: 1  The EWGâs Skin Deep Database lists it as a 5-6 (or moderate hazard), but trying to find the studies they used for their rating proved difficult, and the ones I did find were the nebulous âborax or boric acidâ test studies.
1 This is so because, my nominal wages have increased by 10% while the average price level (CPI) has increased by only 5%. 2  Thus today (in 2010) with my higher nominal wage ($1100.00) I can buy more than I could buy last year.
The potential impact of minimum wage hikes on the overall price level is simply too small to have any appreciable impact on inflation. One way to assess the threat of inflation posed by a minimum wage hike is to estimate directly how much it could raise businessesâ costs. This would give us a sense of what the potential impact of a minimum wage hike would be on prices, assuming businesses would pass these costs onto their consumers.