Rising against a basket of currencies isn’t the same as rising against things people buy. It could be that the dollar is just losing value more slowly than the others.
It's the difference between devaluing and inflation.
devalue
(diˈvæl yu)
v. -valued, -valuing. v.t.1. to set a lower exchange value on (a currency).in·fla·tion
inˈflāSH(ə)n/nounnoun: inflation Economicsa general increase in prices and fall in the purchasing value of money."policies aimed at controlling inflation"
We hear pundits and posters confuse these terms a lot.