Research: Prices stay stable when wages increase
The University of Washington's research team, reporting on the impact of Seattle's minimum wage law, states that increases in wages have little to no impact on prices. Despite detractors' arguments that prices would go up, that has not been the case in this major American population center. Workers have benefited with higher income and prices have remained stable.
In this Washington Post article, the authors present the fact that research studies show that raising minimum wages does not hurt local businesses. Yet low wage workers continue to be left behind.