Inflation is a pervasive rise in the average price level. People expect low inflation rates, but high rates can destroy economies, especially when erratic and unanticipated. Indeed, a rapid money supply growth may not always cause inflation because an increase in the money supply is only one of four factors that can cause inflation.

This episode is also available as a blog post: http://kennethelongauthor.com/2022/06/02/what-causes-inflation-2/