Even in a barter economy with no government, money system or central fiscal planning there can be inflation. Inflation is nothing more than sustained higher pri

Even in a barter economy with no government, money system or central fiscal planning there can be inflation. Inflation is nothing more than sustained higher prices for the same amount of goods or service, no matter the cause. Prices could be denominated in fiat money, currency, bartered physical goods, time, whatever. Inflation could be localized to a cafeteria where kids are trading lunch items for the best desserts, or span the globe in ways that transcend any given government’s ability to use fiscal and monetary policy. Inflation caused by Federal Reserve actions is just one (minor) type of inflation.