It's neither. It's a 3yr pay freeze just like you've said a few times. I put it in bold, underlined, italicized print to point that out. Inflation is a variable that is not within the control of the company. At current rates a 5yr XJT CA makes $69. At 6yr he's making $72. That means he's taking a paycut of about $3.50 right now! Oh wait that's just because of inflation which changes and can't be accounted for hence why contracts are renegotiated ever so many years.

Don't get pi$$y just because you don't know the difference between an actual pay freeze and a "pay cut". <--don't mind if borrow a line.