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You can always ask, but prepare yourself to hear no as the response.
Either they are strapped for cash, or they are just lying to you as they buy new cars and gifts for themselves and their familes. Not yours.
It almost sounds like your company might be in a financial pinch/trouble or are expecting some financial issues coming up soon right now if they are tightening up their finances.
You might need to have an eye on a new job for yourself really soon, if you haven't already started looking.
There only has been one time in my working life that a company froze wage increases, and that was around 15-20 years ago, during the "Great Recession" around 2007-2009 when I worked for a retail company.
I would still ask. When leadership says money is tight, that usually applies to across-the-board increases. Individual adjustments can still happen if someone is carrying a bigger load. Just frame it around your added responsibilities and the value you are bringing, not around what others are getting.