> You know what stops inflation at its root? People thinking that there won’t be inflation. Absent supply shocks businesses often raise prices to get out ahead

> You know what stops inflation at its root? People thinking that there won’t be inflation. Absent supply shocks businesses often raise prices to get out ahead of their competitors or to more gradually raise prices so consumers won’t notice compared to a sudden increase. After a supply shock it can take for prices to stabilize because people expect inflation.