#1- Inflation doesn't "raise $.50 per year" it is a percentage and has averaged around 3% a year for the past 10 years or so, on the dollar that is 3 cents per year, making the needed minimum wage now $6.92...
#2- the problem with that is the minimum wage is jumping by 33%, meaning that other wages may jump by$ 33% and costs of some companies may rise by 33%, those companies may supply to other companies raising their costs by 33% and so on and so on....
#3- with prices jumping up so high, this may increase inflation by an extra few points, possibly making inflation around 5% this year, meaning that minimum wage would need to go up to $7.26 the next year, and if you keep increasing the minimum wage, before you know it, 10 years from now, minimum wage will be $11.26/ per hour!!! 118%increase, not only does the inflation push the costs up, but now the rising wages will possibly increase prices by up to 118%...
In other words, no, having a minimum wage increase yearly is NOT a good thing