A simple formula helps to explain why steeply rising prices are baked into our current economy:
M = G
M is the totality of money, and
G is the totality of goods.
Many factors affect the price of goods, but it is easy to see how changes in the relation of money to goods must produce inevitable outcomes. To illustrate, let M = $10.00 and let G = 10 apples. In that case, $1.00 would be the price of 1 apple. Now let M = $20.00 and let G = 10 apples. In that case, $2.00 would be the price of 1 apple.
Something similar to this has happened in our economy. As the source notes, we have increased M by $5 trillion in just the last two years, but there has been no corresponding increase in G. It is therefore inevitable that prices will continue to rise for the foreseeable future.
“Printing” money is the problem. The solution has two parts. First, stop printing money. Second, produce more goods. Unfortunately, neither part of the solution is politically feasible at present. Wall Street wants more money printing and the current government wants fewer goods.