There are two parts to this, the increase in the money supply which devalues it and the increase in demand from a significant number of people having more money

There are two parts to this, the increase in the money supply which devalues it and the increase in demand from a significant number of people having more money to spend in the market. If we eliminate the increases in the money supply then the increase in demand will still apply an inflationary force. Without increases in the total money supply though those forces should stabilize to match the new higher demand. The problem is that we never eliminate the increase in the money supply and finance an incredible amount of spending through debt.