A reminder:
The main reason of inflation is the long-term rate of money growth being bigger than the long-term rate of output growth.
Not to be too pedantic, but... It's even simpler than that: any increase in the monetary supply is technically inflation.
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Yes of course.
This conclusion was from a paper written in the 80s refuting the theory of cost-push inflation and proving that inflation’s only cause is the increase of the monetary supply.
It makes me happy to know that there are others that read things like this. 😁
