It's weird that many people (even some economists) think that inflation somehow overrides the free price system [0] or the price mechanism [1]. No it's doesn't. There are no "inflation spirals" or other weird things whatsoever.
Spiral (or run-away inflation) would suggest an accelerating curve, while the price mechanism is actually closer to logarithmic, i.e. it starts fast, slows down and converges around the new equilibrium. It's basically a decentralized optimization algorithm.
Spiral (or run-away inflation) would suggest an accelerating curve, while the price mechanism is actually closer to logarithmic, i.e. it starts fast, slows down and converges around the new equilibrium. It's basically a decentralized optimization algorithm.
[0] https://en.wikipedia.org/wiki/Free_price_system
[1] https://en.wikipedia.org/wiki/Price_mechanism