Wages haven’t kept pace with inflation in the US for some time.
https://www.pewresearch.org/fact-tank/2018/08/07/for-most-us...
They’re only starting to rise because of labor pool constraints from the pandemic. Inflation would be very bad for most low to median wage workers, especially those in urban center where housing crises are rampant, especially if business interests continue to succeed at putting downward pressure on them by blocking things like minimum wage hikes.
Real wages are stagnating because that is how macro economics works. When everyone has a saving preference and only spends the bare minimum the economy is optimizing for "efficiency" while staying the same or shrinking. More efficiency primarily means squeezing out low wages out of workers. Given enough inflation there will be an decrease in the saving preference and the problem will resolve itself.
If you just bought a house that is just barely affordable, then you want massive inflation because your house payments won't go up with time, while inflation means you get large raises. Even if your raises don't keep pace with inflation, (they often don't catch up for a few years), after just a couple years you are still way ahead because your largest cost of living is staying still.
By contrast, if you are retired your probably get a lot of your income from fixed incomes that won't go up over time. As such you end up having less and less worth to spend every month.
There are a lot more situations, and everyone is in a different situation.