This is definitely a huge factor, especially when understanding short term inflationary trends, or inflation in a particular good or service. But very long ter

This is definitely a huge factor, especially when understanding short term inflationary trends, or inflation in a particular good or service. But very long term and holistic, systemic inflation, that 2-3% annual target, has very little to do with supply and is almost exclusively printing money. It's a slow drip, a covert tax on savers and gift to debtors, that the government can feed off indefinitely so long as they never get too overleveraged and forced to print money too fast to cover their obligations, shattering the trust that supports the system.