Inflation is fundamentally the result of a conflict over income distribution: Is there such a conflict today?

For there to be sustained inflation, and not just transitory inflation due to rising relative commodity prices, there must be a conflict over income distribution. It is when rising wages threaten corporate earnings that companies react by raising prices. Can we see this configuration today (we look at the United States, the euro zone and the United Kingdom) where companies' profit margin is weakened because of significant wage increases? This pattern is now only seen in the United Kingdom, not in the United States or the euro zone.