Economic growth can lead to more competition for workers and for materials which may lead to increased prices for wages and resources. The increased prices will lead to inflation. Then, the interest rates will need to be raised to slow down the economy in order to prevent inflation from happening. Economic growth does lead to inflation. It is a normal part of the business cycle.
I find a lot of interesting ideas in the Austrian model, which suggests other reasons for inflation. One is that inflation is really caused by governmental devaluing or debasing of the currency.
Market based price increases are not inflation.
Then, the interest rates will need to be raised to slow down the economy in order to prevent inflation from happening.
The proper response is to let the market adjust, not the elites manipulating the market. Slightly higher prices in the short term are not a problem when people are making more money.