You can have both at once. Yes, deflation is the problem. The deflation comes from the fact that not enough dollars are chasing durable goods. Right now all dollars are either going to pay down consumer debt, pay for shelter, food, and medicine (all of which are way, way up), or paying for the cost of government (which is way, way, way up at all levels).
What you are seeing right now, this inversion - the inflation of staples coupled by a deflation in durable goods - is the inflection point. This is where it starts to roll over.
1930’s Germany, Weimar. Venezuela. Greece. Same symptoms - bread is expensive, but you can’t give away financial services. Lawyers are on the streets. 2 year grads from nursing schools can’t get jobs (now you need a four year degree, since its a buyer’s market now)
Remember when nursing was going to hire all those people?
$1.4 T in US government debt sold last week - 0% yield. That’s money that isn’t buying capital equipment, expanding the number of stores, training new people.
That’s the sign - when loaning Uncle Sugar your money for free is more attractive than ANY OTHER INVESTMENT OPTION AVAILABLE, the log is about to roll over.
Look at how many companies are buying their own stock! Notice that the shareholders are no longer punishing the stock price for that anymore? Used to be, when a company bought its stock, it was a sign that they were out of ideas for growing the business and were hoisting the white flag.
I prefer to call price increases price increases or “raising prices” too many people get confused by combining the terms. The remedies are different as you probably know. We have too few dollars (have had been fighting this for years actually) but with increased demand and in some cases reduced supply of goods we are seeing some prices raise.
This is the opposite of what Germany was suffering from in the 1930’s they suffered from hyperinflation (too many dollars in the market) Same with at least most of the other examples you cite.
For inflation, one reduces money supply...there are several ways to do this. For price increases of products and services either demand needs to fall (generally by substitution) or supply increased (various ways to do this).
The fact that money is so cheap is an indication of deflation...high interest rates are when we suffer from inflation. What is even more troubling that being backed up against the wall on tools to fight deflation, is China and other nations (central banks) have been unloading Treasuries for the past few weeks.
We are running to the end of the game, economically. The Fed has done a tremendous job of prolonging the collapse but it is nearing and there is nothing they can do about it. So, prep up...food, water, defense.