That's how the term is most broadly used by people who follow financial markets. Central bankers are currently obsessed with inflation as they see it as an indi

That's how the term is most broadly used by people who follow financial markets. Central bankers are currently obsessed with inflation as they see it as an indicator of economic vitality (ie. people have such a thirst for creating/obtaining new wealth and new enterprise that they are willing to pay more for things like the batteries in your scenario).