I believe the implication is that if everyone collectively agreed to eat the inflation – go from 10% margin to 5% margin for the same $10 – there would be a lot

I believe the implication is that if everyone collectively agreed to eat the inflation – go from 10% margin to 5% margin for the same $10 – there would be a lot less inflation because purchasing power would be the same regardless of what some number on a computer says. But if everyone raises prices “because inflation”, well that’s exactly what inflation is – things getting pricier. I know this sort of coordination can’t happen. Point is inflation is a trailing measure of price changes. Without price changes there is no inflation. People set those prices.