I'm confused why you're ignoring the whole "supply" part of supply and demand. If companies can't afford to ship as much product, what happens to the supply? If

I'm confused why you're ignoring the whole "supply" part of supply and demand. If companies can't afford to ship as much product, what happens to the supply? If businesses go bankrupt and disappear, what happens to the supply? I think there's a lot of caveats to the money supply argument, but even just from a pure supply/demand application you can have inflation if there's less goods to go around, without any change in money supply. That's also exactly what happens when you have situations such as increases in shipping costs and it becomes more expensive for businesses to operate. Again, did we inflation last year despite the money supply decreasing?