A large part of inflation may just be fairly rebalancing wages. Prices of a lot of goods/services with very thin margins (e.g. restaurants) have always been art

A large part of inflation may just be fairly rebalancing wages. Prices of a lot of goods/services with very thin margins (e.g. restaurants) have always been artificially deflated because they've always paid their labor exploitatively low wages. As that starts to change, and those industries' wages increase faster than wages of industries that haven't historically paid exploitatively low wages, then the latter group of people will experience inflation, even if the total money supply remains constant.