Commodities need to be produced as well. The more we produce, the more we will have. Giving people more money does not produce any additional bread or tomatoes.

But we didn’t give people more money, there was the largest in history redistribution of wealth from the poor to the rich. I really don’t believe supply is 100% the problem here and there’s just no need for 20% hikes on some goods. The compound interest on this is insane 1 -> 1.20 -> 1.44 -> 1.728 —> 2.0736 so more than doubling in cost every 5 years.

People seem to think inflation is temporary but it seems much more stubborn and central banks are very scared of it, hence rate rises when the banks might collapse.