I would say that no matter the inflation rate, the SOBs are increasing spending faster then even “inflation” can cover!
That is the reason for the minimum wage increase push. They need to monetize the debt. And increasing wages (all wages will be affected and some union contracts are tied to it) will increase spending. More money chasing the same goods means price inflation.
And yes, they have a tiger by the tail. Deflation will be replaced with inflation followed by hyperinflation.