Minimum Wages to Surge With State, Local Laws Tied to Inflation

Inflation-based minimum wage increases that are baked into many city and state laws cost businesses a few cents more per hour in a typical year, but this year’s unusually high inflation threatens to drive hourly wage jumps of $1 or more in some locales.

Automatic increases tied to inflation will take effect in about a dozen states in 2023, plus about twice as many cities and counties, most of them pegged to growth in the Consumer Price Index. Many of those states will make announcements in October or November of what new, inflation-based wage floors will be starting Jan. 1. ...