This sort of inflation leads to a Venezuelan Death Spiral. That is to say, if you might need something later this year, the impulse is to not defer your purchase but buy it now, thus dumping more money into the fire, and the fire grows hotter.
Your neighbors and businesses are doing the same thing. More inflation, and more, and more, and more.
Of course, these days it will be a lot easier because you can log on and watch it happen in real time. You will be able to watch the purchasing power of your life savings quickly go to zero.
Yeah, I’m just “spreading fear” and “it can’t happen here.”