Real disposable income is all that matters
If you are paid USD (or AUS$, or NZ$, or EUR, or Pounds, or HKD), pay your taxes in that currency and pay your bills in that currency, exchange rates do not matter.
The annual increment is NOT a pay increase to match inflation. It is to pay you for your increased experience.
I for one would like to see pay indexed to inflation. So in real terms I get paid the same. Apart from pay increases for promotions or increasing experience, every year I have been at CX I have taken a pay cut (in real terms - the only terms that matter - not a paper profit, real loss or any other BS).
The size of the difference between my after tax income and my total cost of living is all that really matters.