A question I’ve had

Admittedly I don’t have time to do deep research, so I likely am missing something. However two refrains I’ve seen here are that raising the minimum wage will increase inflation thus lowering buying power, and also that removing the regulation on minimum wage will raise wages because of competition.

I can’t quite square the circle on those two positions in my mind. If removing minimums means a competition that would raise wages, why would that not lead back into inflation taking away buying power? It’s the same situation, workers having more money they can spend, why would they lead to different results?