Renaming didnt drastically reduce inflation. If it were that easy everybody would do it. It just allowed the government to reduce inflationary expectations while they did the legwork of throttling spending, etc.

If they hadnt done the legwork to reduce inflationary pressures this parlor trick would not have worked.

And, arguably, if they hadnt done it at all, inflation would still have gone down simply by reducing the inflationary pressures.