Typically, you need a little more to make up for the difference in how much more taxes you pay at the marginal end vs the average for your total income...

The median earner with a standard deduction would need a ~4.7% raise to stay even...

"Inflation" is also increasingly distributed unevenly. The top 10% continues to make up a larger and larger portion of spending. It is entirely possible for ~4.2% inflation to be substantially higher (or lower) for the median household than the overall reported number.