I think we mostly agree, but were kind of discussing different aspects. Inflation can be stoked by the literal creation of the base supply of money (known as M

I think we mostly agree, but were kind of discussing different aspects. Inflation can be stoked by the literal creation of the base supply of money (known as M1 to economists) as well as interest rates (which effect the growth of the other levels of money via the velocity of money trading hands). Hyperinflation is almost always a former, whereas general high inflation is usually a product of the later via artificially low interest rates, though the later can be caused by overhang of a suddenly contracting economy. But to get in million-level percent sustained (hyper)inflation, it's gotta be the growth of M1.