Of course not, it's driven by ability to pay. And while I'm not a professional economist it does seem that you are correct in that demand-pull based inflation

Of course not, it's driven by ability to pay. And while I'm not a professional economist it does seem that you are correct in that demand-pull based inflation (cost of goods) tends to only happen in periods of economic expansion, while cost-push inflation (size of money supply) tends to be the driver in slower times.