Inflation is significantly a psychological phenomenon: If people expect inflation, they want more pay, and sellers charge more without getting complaints - they just say the magic word, 'inflation', and people accept it - a psychological phenomenon. I've heard that used to justify 25%, 50% price increases (inflation is ~7% max). :D
Combine that psychological effect with our current post-truth world of disinformation campaigns, and it seems to me that people can create inflation, or create more of it.
Isn't war a psychological phenomenon? After all, some leader or a group of people think about starting a war. And it has effects in the real world. The issue: how backwards one has to go find the primal casual agent?
https://www.nytimes.com/2022/02/27/business/economy/price-in...
Combine that psychological effect with our current post-truth world of disinformation campaigns, and it seems to me that people can create inflation, or create more of it.