Paging Paul Krugman: Google Puts Its Employees Ahead of the Coming Inflation

Google just announced that it is giving all of its employees a $1,000 cash bonus and a 10% pay raise.

The raise, which will be given to all 23,000 employees, is effective in January.

WSJ reports:

The pay hike comes as Google ramps up its battle with competitors, especially neighboring Facebook Inc., in a fight to secure talented staff. Roughly 10% of Facebook's employees are Google veterans and other Silicon Valley companies have aggressively poached employees from the Internet giant.

What chart will Paul Krugman dig up to prove this is deflation? Anyone?