Almost by definition, inflation is caused only by expanding the money supply. Zero rates and QE expanded the money supply to be keep economies on life support a

Almost by definition, inflation is caused only by expanding the money supply. Zero rates and QE expanded the money supply to be keep economies on life support after the GFC and Covid. However this led to asset bubbles more than high street inflation as the extra money flowed first to the already wealthy. Resource miss-allocation due to the miss pricing of time/risk has now likely manifested itself in lower productivity and so higher prices for goods and services too. Of course, helicopter money (debt cancellation, Covid relief), will also increase the money supply, but at least it will flow first to the most needy. If the price of eggs goes up because more people can actually afford to eat them, I'm not sure that is a bad thing.